Solana Price Analysis: A Bearish Outlook Ahead for May 25

Cryptocurrency price analysis from CoinMarketCap indicates a bearish sentiment emerging as the week ends. The Solana (SOL) price has witnessed a notable drop of 2.5% over the past 24 hours, following a slight rise of 0.37% over the last week. The recent hourly chart shows a false breakout above the local support level of $170.36, leading to continued trading near this area. A possible test of the $165-$170 range could occur if there is no significant rebound in prices by day’s end. Meanwhile, the daily chart suggests bears are gaining momentum as it prepares to close below yesterday’s candle low. This could lead to a test of the $160 area for traders to watch. Looking further out, neither side holds clear dominance in the near term. With prices hovering around current levels, sideways trading is anticipated as the most likely scenario.