Solana News Today: Solana at $164 Balances Long-Term Bullish Patterns and Short-Term Bearish Risks

Solana is currently trading near $164, a price level that sits at the intersection of long-term bullish technical patterns and short-term bearish risks. Analysts are divided in their outlooks, with some predicting a pullback before a potential recovery in 2025, while others caution that further declines could occur if key support levels are breached [1].

The long-term bullish case for Solana is based on a classic cup-and-handle formation visible on higher timeframe charts. According to analyst Ted Pillows, this pattern suggests that after a full market cycle from $40 in 2021 to a peak near $260, followed by a sharp correction and a recent surge toward $1,000, Solana is likely to pull back to the $140–$150 range before a strong upward reversal [1]. The structure of this pattern reinforces the idea that the network is entering a consolidation phase before another significant move higher.

However, short-term technical analysis tells a different story. Kamran Asghar points to daily and 4-hour charts showing a breakdown from a support range between $150 and $155, following a peak at $210 in mid-July. A failed retest near $164 confirms bearish momentum, and a continued decline below this level could trigger increased algorithmic selling pressure [1]. Traders are advised to watch these key levels closely, as they could determine whether Solana can overcome near-term bearish pressure or face further declines.

Despite the short-term risks, Solana’s robust network activity and historical price behavior provide a strong foundation for long-term optimism. Analysts note that historical consolidation zones between $150 and $200 have consistently shown strong buyer support, reinforcing the belief that the market is likely to rebound by 2025 [1].

For traders, the current juncture presents a critical opportunity to assess both the potential for a short-term pullback and the long-term bullish potential. The $140–$150 range is seen as a key area for possible support, while resistance near $164 and the descending trendline identified by Kamran Asghar will be important in determining the direction of the next move [1].

In summary, Solana’s price action near $164 reflects a pivotal moment where long-term bullish patterns coexist with short-term breakdown risks. While technical analysis highlights the potential for a pullback, the network’s strength and historical price cycles support a confident outlook for recovery in 2025 [1].

Source: [1] Solana Near $164 Faces Short-Term Risks Amid Long-Term Bullish Cup-and-Handle Potential (https://en.coinotag.com/solana-near-164-faces-short-term-risks-amid-long-term-bullish-cup-and-handle-potential/)