Solana was on its way to rise above the $185 resistance zone after the recent rebound from the local support below $170. Moreover, the star token, Bitcoin, making new highs above $111.8K, was believed to trigger the rest of the altcoins as well. While Ethereum made an entry above $2700 and Cardano surged above $0.82, it appeared that the bearish influence over the token could have faded to a large extent. Meanwhile, the increase in bearish activity, which dragged the BTC price below $107K, seems to have hindered the SOL price rally as well, which is now struggling to reach $180.
Currently, the SOL price is down by more than 6% after touching the price zone between $180 and $190. Meanwhile, the token triggered a strong rebound from the local support close to $170 and is trying hard to push higher with renewed momentum. The recent rebound signals an increase in the buy-side interest that has triggered a recovery swing. Meanwhile, despite the pullback, the price remained within the pattern, which keeps the upside potential higher.
In the long term, the SOL price remains within the rising wedge, while in the short term, the token is heading towards the end of the apex of the ascending triangle. However, the bulls have been prevented from reaching the lower support of the consolidation. The stochRSI has reached the lower support and is about to trigger a bullish reversal, while the MACD, which remains within a positive range, shows a drop in the selling pressure.
Therefore, the Solana price is expected to maintain a healthy consolidation within the triangle for some more time, but along the upper resistance. The token is further believed to trigger a breakout before the end of the month and secure the range around $190. Although rising above $200 appears to be a tedious job for the SOL price, it may surely clear the barriers to reaching the range. With this, the Solana price prediction for 2025 remains bullish, with a possibility to rise and reach new highs above $500.
