Solana (SOL) Price: Analysts Project Cycle Peak Between $400-$500 Range

TLDR

Solana (SOL) shows a technical pattern similar to 2023 that led to a 5x price surge The cryptocurrency broke out of consolidation and is retesting $130-$140 as support Analysts project a potential cycle peak between $400-$500 despite recent pullbacks SOL trades at $154.76 with a 2.06% decline in 24 hours and 8.82% drop over the week Bears are showing strength with potential downside to $142-$150 support levels

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Solana is displaying mixed signals as technical analysts identify bullish continuation patterns while short-term price action shows bearish momentum. The cryptocurrency currently trades at $154.76 following recent declines.

Solana (SOL) Price

The asset recently broke out of a consolidation phase similar to a 2023 pattern that preceded a fivefold rally. Analyst Cas Abbé noted that SOL formed a symmetrical triangle between January and April 2024, mirroring the 2023 setup.

$SOL hasn't peaked for this cycle.

It had a breakout last month, and now just doing S/R flip.

This is very similar to what happened in Q3 2023, before SOL pulled 5x within a few months.

This time the MCap is much bigger, so a 2x-3x move seems highly likely.

I think $SOL will… pic.twitter.com/4Qbowz4C96

— Cas Abbé (@cas_abbe) June 4, 2025

The May breakout was followed by what analysts call an support and resistance flip around $130-$140. This technical development typically signals trend continuation when previous resistance becomes new support.

In 2023, SOL followed this exact pattern before surging from around $25 to $125 within months. The current setup shows buyers stepping in at key levels, absorbing selling pressure above the breakout zone.

However, recent price action tells a different story. SOL started declining from the $188 resistance zone after hitting a cycle high at $187. The cryptocurrency fell below the $172 support level and broke down from a rising channel.

Source: TradingView

Market Cap Limits Expected Gains

Unlike 2023, Solana now carries a much larger market capitalization. This factor reduces the likelihood of another 5x surge according to technical analysts.

Abbé projects a more modest 2x to 3x move, targeting a cycle peak between $400 and $500. From current levels near $155, this represents a potential 160% to 220% gain.

The price zone of $300 to $450 aligns with historical chart patterns and current technical structure. Market conditions will determine whether SOL can achieve these targets.

Bearish Signals Emerge

Recent technical analysis reveals bearish signals developing. SOL fell below the 23.6% Fibonacci retracement level of the move from $92 to $187.

The cryptocurrency is trading below its 50-day simple moving average, indicating weakening momentum. Immediate support sits near $150, with major support at $142.

A break below $142 could trigger further declines toward $130 support. Additional weakness might push SOL toward $118 or even $102 in the near term.

For recovery, bulls need to defend the $150 level. A move above $162 resistance could signal renewed strength, with the next target at $165.

Clear movement above $172 would target the previous high at $188. A daily close above $188 might open the path toward $200.

SOL has declined 2.06% in the past 24 hours according to CoinGecko data. The weekly performance shows an 8.82% drop despite the longer-term bullish outlook.

The current retracement is viewed as a typical retest phase following the May breakout. Analysts maintain that holding $130-$140 support keeps the bullish case intact.

Market watchers note that green-arrow zones on charts highlight rebounds from key support areas in both 2023 and current setups. These zones marked buying interest and acted as springboards for upward moves.

The cryptocurrency must settle above $165 resistance to confirm a fresh uptrend. Failure to hold current levels could extend the decline toward lower support zones.

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