Solana (SOL) has recently experienced significant price fluctuations, with a 14% increase followed by a decline of over 20% within three weeks.
Despite attempts to recover, SOL has faced resistance at the $235 level. The cryptocurrency has consolidated around key levels, particularly the March highs of $210 and the all-time high of $264.
The Relative Strength Index (RSI) suggests muted demand for SOL, potentially hindering a robust breakout. The liquidation heatmap highlights liquidity levels at $244-$245 and $220.
Institutional sentiment remains optimistic about Solana's long-term prospects, with a price target of $750 by 2025 projected by Bitwise.
The interplay between technical indicators, market sentiment, and institutional interest will shape SOL's future trajectory. It is advised for investors and traders to stay vigilant in response to the rapidly shifting dynamics of the market.