The status of Solana (SOL) and trading recommendations for this week (July 6, 2025):
Overview of the status of Solana (SOL):
Solana (SOL) is one of the leading cryptocurrencies in the crypto market, known for its fast network and low transaction fees, making it a preferred platform for decentralized applications (DeFi) and meme coins. Based on the latest available data:
• Current price: SOL is priced around $150-$191, according to sources like Binance and eToro, with a market value estimated at around $92-$99 billion.
• Recent performance: The price of SOL has risen by 6.62% over the past week, but the monthly performance shows a decline of 2.39%. On a yearly basis, SOL has gained 1.11%.
• Trading volume: The daily trading volume is high, at about $3.87 billion in the last 24 hours, indicating strong market activity.
• Technical analysis: Technical analyses show a short-term downward trend on the daily and weekly frames, with breaks in key support levels at $130-$122. However, there are signs of a potential recovery after forming a new bottom at $115-$117.
Forecast for 2025:
Multiple sources expect varying prices for SOL in 2025:
• Gate.io: expects the price of SOL to reach around $213-$215.
• DigitalCoin: Less optimistic forecasts with an average price of $169.
• PricePrediction: expects an average price of $331.
• OKX: indicates that forecasts depend on market factors such as supply and demand, whale activity, and protocol updates.
Technical analysis for this week:
• Weekly frame: shows a long-term upward trend, with strong support levels at $100 and $195.47, and resistance target levels at $264 and $420.
• Daily frame: the price is stable above the support of $146.28, with a possibility of rising to $168 if $149.62 is broken. If the support at $144 is broken, the price may retreat to $139 or $133.
• Liquidity levels:
◦ Major support: $126.24-$129.12.
◦ Major resistance: $134.63-$142.07.
◦ Low liquidity zone: $118.88-$124.93.
• Technical indicators: The RSI is below 50, indicating weak buying momentum currently, but a break above $152 could lead to a rise towards $157-$164.
Trading recommendations for this week:
Based on technical analyses from web sources and X posts, here are the trading recommendations:
1 Scalping Trading:
◦ Buy: at $129.12, with targets at $134.63 and $138.84, and a stop loss at $126.24.
◦ Sell: if the break at $134.63 fails, with a target at $129.12 and a stop loss at $136.50.
2 Swing Trading:
◦ Buy: from the range of $126.24-$127.58, with targets at $134.63 and $147.31, and a stop loss at $118.88.
◦ Sell: at $156.29 if the price fails to break this level, with targets at $142.07 and $134.63, and a stop loss at $160.
3 Long-term strategy:
◦ It is recommended to hold SOL for long-term investment, especially with expectations of the first spot ETF for Solana launching this week, which could boost demand. The current price ($150) is a good buying opportunity compared to the all-time high of $300.
Factors influencing this week:
• Solana ETF launch: The launch of a spot ETF could increase demand and price momentum.
• Whale activity: Large sell-offs could lead to price volatility.
• Network updates: Listing new coins on the Solana platform may enhance market value.
• General market: Overall cryptocurrency market volatility, especially with uncertainty regarding U.S. Federal Reserve decisions, may affect SOL.
Risk warning:
The cryptocurrency market is highly volatile, and past performance does not guarantee future results. You should do your own research and consult a financial advisor before making trading decisions. Do not invest more than you can afford to lose.
Conclusion:
The Solana cryptocurrency shows mixed signals with a short-term downward trend but long-term upward potential. It is advised to closely monitor support and resistance levels, especially at $126.24 and $134.63, while being prepared to take advantage of any potential upward movements with the ETF launch. For short-term trading, focus on the mentioned scalping and swing strategies, with a strict stop loss to reduce risks.