Solana (SOL) was among the first cryptocurrencies to truly skyrocket in the ongoing bull market, as it rose from about $20 at the start of October 2023 to highs above $200 in March 2024.
Though the token has been anything but weak in the trading since, it has neither managed to keep up the momentum it enjoyed in the early months nor decisively managed to stay above $200, having managed only a brief – if spectacular – rise above $250 after the broad rally that followed Donald Trump’s re-election.
SOL entered 2025 in a seemingly bullish setup, with some analysts forecasting an imminent rocketing, but, more recently, the token finds itself at risk of a 30% plunge, per the estimates of the on-chain expert Ali Martinez.
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Why $180 is the most important price level for Solana
Specifically, Martinez made an X post on January 9 explaining that, should Solana fail to remain above $180, it is likely it would plunge to $150 and, possibly, as low as $130.
Though overnight trading between Thursday and Friday appeared to invalidate the setup as SOL recovered from lows just above $182 to above $190 in the hours after midnight, the danger resurfaced by the morning of January 10.
Indeed, despite being up by a slight 0.59% in the last 24 hours, the token fell to $188 by press time, with the trend being decisively downward for the time being.
Looking at the initial ten days of 2025, Solana has been performing in line with the rest of the cryptocurrency market as it, soon after the New Year, enjoyed a strong rally that took it above $220 by January 6.
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Again, much like most digital assets, it subsequently plunged some 15% to its press time price.
What is interesting, however, is that Solana’s moves have so far preceded those of the traditional market leader, Bitcoin (BTC).
SOL started its initial 2025 rally earlier and with more decisiveness than BTC. Perhaps even more importantly, it peaked on January 6, unlike the world’s premier cryptocurrency, which reached yearly highs above $101,000 on January 7.
What is SOL’s next move in 2025?
Finally, despite the volatility in the crypto market, Solana’s next move appears somewhat uncertain. With a relative strength index (RSI) near 40, it is neither particularly overbought nor oversold, meaning that the first critical level it reaches – whether it be the closest support just under $180 or the nearest resistance cents above $195 – could decide the token’s next move.
There is also a possibility SOL will, much like many other assets, make a major move toward January 20 on the likely external catalyst provided by Donald Trump’s inauguration. For example, if the markets react to the entry into the White House similarly to how they greeted election results, Solana could surge as high as $270.
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