The price of Solana (SOL) is once again attracting trader attention, hovering around a critical support level of $143.94. The analysis reveals varying approaches among market participants.
Current State of the Solana Market
According to a recent analysis, the $143.94 low from Friday could signify the bottom of a corrective wave (ii). If this level holds, Solana may begin impulsive wave (iii), targeting a move towards $180. A potential wave structure is forming on the hourly chart, in line with earlier wave counts.
Diverging Opinions Among Traders
The current situation is eliciting mixed feelings among traders. Some are buying the dip, hoping that the $143.94 support is a temporary bottom, while others are exercising patience, waiting for clearer signals. As noted by one analyst, "The current rally is still too shallow to confidently confirm a reliable structure." This sentiment reflects broader concerns regarding cryptocurrency volatility.
Fundamental Aspects of Solana
Despite price fluctuations, Solana's fundamentals continue to draw investor interest. The network is known for its fast transactions and rapidly growing DeFi and NFT ecosystem. Having weathered past controversies, the latest data shows increasing developer and institutional interest in 2025.
The current situation in the Solana market calls for caution among traders. The support level at $143.94 will be key in determining future dynamics, while the network's fundamental principles continue to demonstrate its resilience.
