On January 11, 2025, Solana (SOL) retraced 12% from its Monday high, currently trading at $191, a 3.3% increase within the last 24 hours. After reaching $220 earlier this week, SOL's bullish momentum faltered following an approximately 8% drop in Bitcoin's price.
As of Thursday, Solana dipped to a low of $182, but managed to bounce back above the $190 range before settling at $185. Analysts suggest that despite recent declines, SOL maintains a price target of $325, provided it remains above the critical $180 support level.
Crypto analyst Ali Martinez cautioned that breaking below $180 could lead to a decline of 20% to 30%, potentially targeting the $150 to $130 range not seen since late 2023. Conversely, trader Crypto General remains optimistic, citing upcoming market catalysts, including Trump's inauguration, which could drive prices higher.
Looking ahead, analysts predict a potential surge for SOL, with expectations of reaching $400-$500 later this year, particularly if Solana-based ETFs launch successfully.