Solana (SOL) is flashing bullish signals again. In the last 24 hours, the token surged by 3.5% to trade around $163.76, marking an 11.74% gain since the start of July. Over the past week alone, SOL has climbed 7.4%, outperforming several top altcoins in this mini crypto rally.
But is this just a short-term spike or the start of something bigger?
Solana Market Outlook – 2025 Performance Recap
The year 2025 has been volatile for Solana. While January saw strong growth of 22.3%, Q1 ended with a heavy loss of 34.1%, led by major dips of 36% in February and 15.7% in March.
However, the second quarter brought a solid rebound. April and May delivered gains of 18.6% and 6.11%, respectively, slightly offset by a minor 1.08% drop in June.
At the start of July, SOL was priced at $146.90. Since then, it has added nearly $17 to its value, now hovering near $163.76.
Fibonacci Levels Hint at Pullback, But Rally to $185 Still in Play
Veteran financial advisor Matthew Dixon believes a short-term pullback or sideways consolidation could occur soon. Sharing his Solana chart on X, Dixon said the current price structure resembles a classic Wave 4 formation, which might temporarily push SOL down to the $152–$158 range (based on Fibonacci retracement levels).
But don’t panic. Dixon remains bullish in the medium term. He says if SOL stays above the $150 support zone, it could ignite Wave 5, targeting $175 or even $185, based on past resistance and Fibonacci extension levels.
What’s Next For SOL Price?
Dixon warns that if Solana falls below $145–$148 with strong volume, the bullish trend may be invalidated, triggering a complex correction instead of a rally.
Solana is riding strong bullish momentum, with short-term consolidation likely before a potential surge to $185. But all eyes remain on the $150 support—a key level that could make or break the rally.
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