Today, the prezzo di Solana experienced a good rebound. After falling below $130 on Sunday, it climbed back with little effort above $140.
However, the rebound ended there
The suffering of the price of Solana (SOL)
Currently, from the all-time high in January, the price of SOL is 51% lower.
In fact, the period of suffering that began in February is still ongoing
In reality, the annual low point was reached in April, when it had dropped to almost $100, but the subsequent recovery seems in all respects more of a rebound than a true restart
Suffice it to say that in May it managed to climb back above $180, but starting at the end of the month, it began another correction that, however, might have ended yesterday
The current price level is not only in line with that of the end of February, but it is also even in line with that of twelve months ago
Moreover, before the Trump trade of November during the course of 2024, it had already managed to climb back above $180, which it was unable to maintain last month. These are all signs suggesting that it is going through a period of struggle
The historical trend of SOL
To get a more accurate idea of what is happening, however, it is necessary to frame these movements with the long-term historical trend
First of all, it must be said that during the last great bull run crypto, the one in 2021, the price of Solana managed to exceed $230. This is a level much higher than the current one, although lower than the peak reached in January of this year.
It should be noted, however, that the bull run of 2021 that took it to $230 started from below $50, so at this moment it does not seem to have particular similarities with the current situation
A good starting point for making comparisons is the $100 reached at the end of 2023 after the rebound from the bottom of the last major bear-market
The fact is that the $100 is precisely the support that held in April, so it is from that point that the new long-term trend was triggered
This trend saw the price of Solana first rise from $100 to $200 at the beginning of 2024, and then it saw it fall back to about $120 in the second half of last year
Therefore, before April 2025, the bottom of that trend was the $120 of mid-2024, and this really indicates that the current situation can be interpreted as a moment of suffering
The causes of the apparent suffering of the price of Solana (SOL)
In reality, it is possible that the apparent suffering is mainly a kind of optical illusion, due to the excessive increase of the past months
In fact, excluding the peaks of November 2024 and January 2025, it seems that the price of Solana is actually moving sideways for about two years, within a range between $100 and $180, with brief peaks above this figure
Starting from July 2023, it managed to rise above $200 only twice, once in November 2024 and once in January 2025, both times due to a mini-bubble triggered by the electoral victory of Trump
In other words, leaving aside the two mini-bubbles, which are not indicative precisely because they were bubbles, the current price is actually perfectly in line with the long lateralization in place since July 2023. In fact, the current price is exactly halfway between the bottom and the high of this lateralization, always excluding the peaks due to bubbles
Therefore, it seems that the apparent suffering of Solana’s price is mainly the result of disillusionment after the exaggerated peaks at the end of 2024 and the beginning of 2025, without which no real situation of suffering would emerge
The weight of memecoins
In this regard, it is important to remember a very significant fact
For some time now, Solana has taken the scepter from Ethereum as the preferred blockchain to launch new tokens, such as memecoin and shitcoin.
Just as Ethereum greatly benefited from its leadership in 2017/2018 and in 2020/2021, starting from 2023, Solana has instead begun to benefit from it.
Memecoins are speculative bubbles by definition, so it is more than obvious that they can generate periods of great excess enthusiasm, as happened precisely with Solana between the end of 2024 and the beginning of 2025
At this moment, there is no particular hype around memecoins, therefore the price of Solana has simply returned to normal after a period of excessive enthusiasm
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Solana: today’s price rebound is not enough for SOL
Today, the prezzo di Solana experienced a good rebound. After falling below $130 on Sunday, it climbed back with little effort above $140.
However, the rebound ended there
The suffering of the price of Solana (SOL)
Currently, from the all-time high in January, the price of SOL is 51% lower.
In fact, the period of suffering that began in February is still ongoing
In reality, the annual low point was reached in April, when it had dropped to almost $100, but the subsequent recovery seems in all respects more of a rebound than a true restart
Suffice it to say that in May it managed to climb back above $180, but starting at the end of the month, it began another correction that, however, might have ended yesterday
The current price level is not only in line with that of the end of February, but it is also even in line with that of twelve months ago
Moreover, before the Trump trade of November during the course of 2024, it had already managed to climb back above $180, which it was unable to maintain last month. These are all signs suggesting that it is going through a period of struggle
The historical trend of SOL
To get a more accurate idea of what is happening, however, it is necessary to frame these movements with the long-term historical trend
First of all, it must be said that during the last great bull run crypto, the one in 2021, the price of Solana managed to exceed $230. This is a level much higher than the current one, although lower than the peak reached in January of this year.
It should be noted, however, that the bull run of 2021 that took it to $230 started from below $50, so at this moment it does not seem to have particular similarities with the current situation
A good starting point for making comparisons is the $100 reached at the end of 2023 after the rebound from the bottom of the last major bear-market
The fact is that the $100 is precisely the support that held in April, so it is from that point that the new long-term trend was triggered
This trend saw the price of Solana first rise from $100 to $200 at the beginning of 2024, and then it saw it fall back to about $120 in the second half of last year
Therefore, before April 2025, the bottom of that trend was the $120 of mid-2024, and this really indicates that the current situation can be interpreted as a moment of suffering
The causes of the apparent suffering of the price of Solana (SOL)
In reality, it is possible that the apparent suffering is mainly a kind of optical illusion, due to the excessive increase of the past months
In fact, excluding the peaks of November 2024 and January 2025, it seems that the price of Solana is actually moving sideways for about two years, within a range between $100 and $180, with brief peaks above this figure
Starting from July 2023, it managed to rise above $200 only twice, once in November 2024 and once in January 2025, both times due to a mini-bubble triggered by the electoral victory of Trump
In other words, leaving aside the two mini-bubbles, which are not indicative precisely because they were bubbles, the current price is actually perfectly in line with the long lateralization in place since July 2023. In fact, the current price is exactly halfway between the bottom and the high of this lateralization, always excluding the peaks due to bubbles
Therefore, it seems that the apparent suffering of Solana’s price is mainly the result of disillusionment after the exaggerated peaks at the end of 2024 and the beginning of 2025, without which no real situation of suffering would emerge
The weight of memecoins
In this regard, it is important to remember a very significant fact
For some time now, Solana has taken the scepter from Ethereum as the preferred blockchain to launch new tokens, such as memecoin and shitcoin.
Just as Ethereum greatly benefited from its leadership in 2017/2018 and in 2020/2021, starting from 2023, Solana has instead begun to benefit from it.
Memecoins are speculative bubbles by definition, so it is more than obvious that they can generate periods of great excess enthusiasm, as happened precisely with Solana between the end of 2024 and the beginning of 2025
At this moment, there is no particular hype around memecoins, therefore the price of Solana has simply returned to normal after a period of excessive enthusiasm