“Solana’s Sol Sharp PullBack Contrasts with Standard Charterred’s Late-May Forecast Calling for Nearly 90% Upside by the end of the year.”, – WRITE: www.coindesk.com
Droped 7.87% to $ 147.07 Over The Past 24 Hours, AS Traders Reacted to Renewed Volatility Across Crypto Markets. After Opening AT $ 159.60, Sol Fell Sharply Durying Late Thursday and Early Friday Trading, Reaching A Low of $ 142.13 Before Stabilizing Above The $ 147 Mark. Key Intrady Volume Spikes Suggest Some Accuumation Near Support, But The Overall Structure Remains Fragile as The Token Trades Nearly 40% BLOW ITS March Highs.
The Short-Term Weakness Puts Added Focus on a Late-May Price Target from Standard Charterred’s Global Research Team. In a May 27 Note Initiating Formal Coverage of Sol, The Bank Forecast that Solana would rise to $ 275 by year-end, with a long-term Target of $ 500 by 2029. Core Differenttors But Acknowledged that Much of Its Recent Meme-Coin-Driven Activity Remains Heavily Discounted by The Market.
The Growing Gap Between That Bullish Outlook and Current Market Conditions Illustrates the Core Dilemma Facing Long-Term Sol Investors Reject of the Growth Narrative. While Standard Charted Experts Solana to Underform Ether in the Near Term, IT Positioned the Token As a High-Beta Bet on Retail-Driven Ecosystems
For Now, Price Action Remains Chops, with Buyers Stepping in Near $ 143 But Meeting Resistance Near $ 150. WHETHER SOL CAN REGAIN UPSIDE TRACTION IN TIME TO VALIDATE EVEN A PORTION OF THE YEAR-End Forecast May Depend on Broader Macro Stabilization and Renewed On -chain Activity in the Coming Weeks.
Technical Analysis Highlights
- SOL DROPPED 11.87% INTRADAY, from $ 160.49 to a Low of $ 142.13.
- Intense Selling Occurred Between 23: 00–01: 00 UTC Before Price Stabilized.
- A Tight Consolidation Range ForMed Between $ 143.50– $ 146.50.
- Higher Lows Since 02:00 Suggest Possible Bullish Divergence.
- Volume Peaked At 13:31 (31.8k Sol) and 13:39 (43.4k Sol) As Buyers Defended Support.
- Resistance Sits AT $ 152; A Break Above Could Shift Short-Trend.
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