Solana’s sun
dropped 7.87% to $ 147.07 over the last 24 hours when dealers responded to renewed volatility across crypto markets. After opening of $ 159.60, sun dropped sharply over the course of late Thursday and early Friday trading and reached a low level of $ 142.13 before stabilizing over the $ 147 mark. The most important intraday volume tips suggest some accumulation close to support, but the overall structure remains fragile as the token trades almost 40% below its heights in March.
The short -term weakness puts added focus on a price target at the end of the standard Chartered’s global research team. In a May 27-note that initiates formal coverage of sun, the bank predicts that Solana would rise to $ 275 at the end of the year, with a long-term target of $ 500 by 2029.
The growing gap between the bullish view and the current market conditions illustrates the central dilemma that long -term solar investors face: Whether to treat recent draws as temporary noise or as a basic rejection of the growth narrative. While Standard Chartered expected Solana to underprestate Ether in the short term, it placed the token as a high-beta effort on retail-driven ecosystems that could be sharpened sharply if the adoption expanded beyond Memecoins.
For the time being, price action is chopped, with buyers who stepped in nearly $ 143 but meets resistance near $ 150. Whether sun can regain head traction in time to validate, even part of the end of the year, may depend on wider macro -stabilization and renewed activity on chain in the coming weeks.
Technical analysis highlights
- Sun fell 11.87% intraday, from $ 160.49 to a low level of $ 142.13.
- Intense sales occurred between 23: 00-01: 00 UTC before the price is stabilized.
- A tight consolidation area formed between $ 143.50- $ 146.50.
- Higher low since 02:00 suggests possible bullish divergence.
- Volume peaked at. 13:31 (31.8k sun) and 13:39 (43.4k sun) when buyers defended support.
- Resistance is at $ 152; A break above could change short -term trend.
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