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By Siamak Masnavi, CD Analytics|Edited by Aoyon Ashraf
Jun 13, 2025, 5:46 p.m.
- SOL fell 7.87% to $147.07 after bottoming at $142.13 in early Friday trading.
- Buyers defended the $143–$144 zone, forming a tight consolidation range, according to CoinDesk Research’s technical analysis model.
- Volume surged during the 13:30 window as price rebounded toward $147
- A May 27 research note from Standard Chartered forecast SOL at $275 by end-2025.
- The divergence between short-term weakness and long-term optimism is widening.
Solana’s SOL
dropped 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 during late Thursday and early Friday trading, reaching a low of $142.13 before stabilizing above the $147 mark. Key intraday volume spikes suggest some accumulation near support, but the overall structure remains fragile as the token trades nearly 40% below its March highs.
The short-term weakness puts added focus on a late-May price target from Standard Chartered’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. The report cited Solana’s speed and efficiency as core differentiators but acknowledged that much of its recent meme-coin-driven activity remains heavily discounted by the market.
STORY CONTINUES BELOW
The growing gap between that bullish outlook and current market conditions illustrates the core dilemma facing long-term SOL investors: whether to treat recent drawdowns as temporary noise or as fundamental rejection of the growth narrative. While Standard Chartered expected solana to underperform ether in the near term, it positioned the token as a high-beta bet on retail-driven ecosystems that could re-rate sharply if adoption expands beyond memecoins.
For now, price action remains choppy, 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-term trend.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Siamak Masnavi is a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends shaping the crypto market. He holds a PhD in computer science from the University of London and began his career in software development, including four years in the banking industry in the City of London and Zurich. In April 2018, Siamak transitioned to writing about cryptocurrency news, focusing on journalism until January 2025, when he shifted exclusively to research on the aforementioned topics.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
