Solana Analysts Predict Price Drop Before Potential Rally This Quarter

Solana Market Update

Solana (SOL) is currently attempting to reclaim key price levels following a 9.6% surge attributed to the launch of its second-generation Web3 smartphone, Seeker.

SOL hit a multi-day high of $171 but retraced to the $160-$164 range.
The cryptocurrency has been fluctuating between $140 and $180 since the April-May breakout.
Key support identified at $165, where 44.4 million SOL are concentrated.
If SOL does not reclaim $165, it risks turning this level into resistance, possibly leading to further declines.
Potential resistance levels to retest include $177 and $189.

Analyst Predictions

Market watchers have differing views on Solana's near-term trajectory:

Analyst Crypto Jelle predicts SOL could reach new all-time highs this quarter if it breaks above $200.
Crypto Batman foresees a correction to around $150 before a significant upward move.
Ted Pillows suggests a possible 10%-15% drop towards $140-$150 prior to a reversal, citing strong network activity.

Currently, Solana is trading at $163, reflecting a 3.3% decline in the daily timeframe.