news 
**Solana Price Seeks Consolidation Ahead of a Breakout**
Since reaching a fresh all-time high on 19th January 2025 on the back of Trump and Melania’s PolitiFi tokens, SOL/USD has dropped by close to 20%. As at the time of writing, the altcoin is trading at $237.69 after gaining 3.92% over the past 24 hours.
After the corrective pullback that cut across the crypto majors, Solana price appears to be finding its footing. A look at its daily chart reveals it’s trading between the mid and upper Bollinger Bands. While the bulls remain in control, the absence of a near-term catalyst may have it enter a consolidation phase.
More specifically, the range between $225.84 and $247.97 will be worth watching. Beyond that range, the bulls will be looking to break the resistance at $260.92. From this perspective, placing a stop loss at $215.57 is ideal; beyond which this thesis will be invalid.
**Please note that cryptocurrency markets are highly volatile and prices can fluctuate rapidly, potentially rendering this analysis invalid. As such, it’s crucial to stay informed about market trends and adjust your trading strategy accordingly.**
To continue reading the article click here
Source: coinjournal.net
