Solana (SOL) SPOT Analysis:

Recent Performance:

Solana has shown strong recovery momentum, rebounding from April lows and breaking above key resistance levels.

It currently sits at a pivotal resistance point, suggesting potential for either a continuation rally or a short-term correction.

Over the past week, Solana has experienced a significant surge, with a 7.06% increase in the last 24 hours and a 17% gain over the week.

Trading volume has also increased significantly, indicating strong market participation.

Key Technical Observations:

Short-Term (1-hour chart): A completed five-wave impulsive structure suggests weakening momentum and a potential corrective retracement.$SOL

Support and Resistance: Clear support and resistance levels are crucial for traders to set stop-loss and take-profit limits. Key support is noted in the $118-$130 range. Resistance is being tested around the $139-$142 levels, with further targets at $185.57 and potentially $227.16 if bullish momentum continues.

Potential Price Predictions for 2025:

Analysts have varying predictions for Solana's price in 2025, with a wide range from around $122 to $1,000.

Average predictions tend to be in the $200-$400 range.

DYOR BEFORE INVESTING.