Traders weigh a potential drop to $40 against a rally to $160 as SOL hovers near key technical levels.
Solana (SOL) trades at $75.06, down 1.22% on the day, maintaining a position just above its 50-day moving average. The daily chart shows a death cross, a bearish technical pattern, fueling caution among traders.
Prediction markets assign a 69% probability to a decline toward $40, while a 31% chance remains for a surge to $160. SOL’s $43 billion market cap reflects broader crypto weakness, with Bitcoin and Ethereum struggling near $65,000 and $1,825–$1,850, respectively.
An upcoming Alpenglow consensus upgrade, targeting sub-200-millisecond finality, could act as a catalyst if deployed on mainnet in August. Until then, SOL’s price action remains tied to macro trends and technical support at $90.