Solana Price: SOL Struggles to Hold Support - Is the Bull Market Over? FLAMGP Market Observations

The Research Division of Fleet Asset Management Group, points out that the recent price movement of Solana (SOL-USD) https://flamgp.com/ has triggered the question that maybe the bull cycle of the token is already over. Solana has been trying to break through the critical $250 resistance level for several times but has not been able to keep the energy of the breakthrough and is still trading within a descending parallel channel.

Technical Analysis: Resistance Confirmed, Support at Risk

After a close above the $120 support area in December 2023, Solana has in overall been trading above this area. It was only in April 2025 when it dropped briefly to $95.26 and then shot back up sharply, thereby forming a bullish engulfing candlestick.

Within this timeframe, the price of Solana has gone up to a record high of $295.83, however, it has failed twice to close above the $250 resistance level:

· In April, SOL https://flamgp.com/ reached $253 but due to lack of follow-up buying, it quickly dropped back, thus turning $250 into a key rejection zone (red icon).

· This repeated failure at $250 accentuates $250 as the most significant resistance level that is holding Solana back from going up further.

After the rejection, SOL managed to find temporary support above the $185 mid-range and rebound. Nevertheless, the price movement is still weak, and the possibility of a breakdown is still quite high.

Indicators: Bearish Signals Emerging

According to the Research Division of Fleet Asset Management Group, the main technical indicators that they have analyzed are not very optimistic. They include the following:
·The Relative Strength Index (RSI) is on the verge of going below 50, which indicates that the strength of the trend is gradually fading.

·The Moving Average Convergence Divergence (MACD) is having a bearish crossover (black circle) that is a signal of short-term downward movement turning into long-term declining trend.

The research team points out that SOL's fate conjunction with $185 will be their main consideration to predict Solana's forecast for the rest of 2025.

Fleet Asset Management Group's View

"Solana's recent troubles dramatize the technical obstacles that come after the substantial rallies of the top blockchain tokens. The investors should perform a rigorous risk management if they still decide to go for such highly volatile assets," said the Research Division of Fleet Asset Management Group. https://flamgp.com/

The Group advises that investors mixing SOL risk with structured yield solutions and cash-flow-generating instruments would be better off in that situation.

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Conclusion

It is Solana that couldn't go beyond $250 resistance, the $185 mid-range was a fragile hold at best which is why many are wondering if the bull market is over. On the one hand, a decisive breakdown could lead to a more profound retracement, while on the other hand, a rebound could keep the bulls alive for another attempt at $250.

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Media Contact

Fleet Asset Management Group
Email: info@fleetmining.com
Website: https://fleetm
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Islamabad, Pakistan

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This release was published on openPR.