Solana (SOL) recently completed a five-wave impulsive rise and is now entering a corrective phase. A diamond top has formed and has broken to the downside, indicating negative short-term expectations. As long as SOL trades below the resistance level of $180, this corrective scenario remains valid. However, the support range is expected to hold at $146, indicating a minor organized correction within a larger uptrend.
This correction may provide an ideal re-entry point before the next major step. Investors should closely monitor key levels to identify short and long entry opportunities in the short term.
In the long term, financial institutions such as VanEck and JPMorgan have expressed positive sentiments toward Solana, forecasting price targets of $520 and $500 respectively by the end of 2025. These projections are based on Solana's increasing dominance in the smart contract platform sector, rising developer activity, and overall growth in the cryptocurrency market.
Despite the current correction, Solana's strong fundamentals and institutional interest indicate a positive long-term trajectory. Investors should consider both short-term technical indicators and long-term growth prospects when making investment decisions.
*Disclaimer: This analysis is for informational purposes only and should not be considered financial or investment advice.*