Solana Gears Up For Wild Ride: Unpacking SOL USD Price Action In June

Solana was in the headlines for a long time. Though the community has been rather silent lately, the price has not increased as some expected. Is it over, or is there more bread in the token? While long-term SOL USD investors are probably not that concerned, since nothing has changed on a fundamental level, downside price action is unignorable recently, even as the Solana ETFs are still pending approval.

We can see how powerful support has been for #SOLANA around the $SOL 141 level.
Another attempt will likely result in a bounce BUT a break could be decisive for a further downside price action.
This is actually really useful information for trade placement with well defined risk… pic.twitter.com/GgPH6ZJrif

— Matthew Dixon – Veteran Financial Trader (@mdtrade) June 20, 2025

Matthew Dixon’s analysis and comments are excellent, especially for newer traders! Consider both ways the SOL USD price can go and manage risk with tight stops.

Zooming Out on SOL USD: Solana Price in the Long Time Frame

We’ve got three charts to look at – brace yourself!

(SOLUSD)

The first chart we will start our analysis on is the long-term Weekly timeframe, specifically looking at the bigger range. Solana’s price reached the 2021 bull run top at the end of 2025, which is our current resistance. In other words, it is the top of the range.

The bottom of the range might look very far down at $27. It’s good to remember that SOL spent almost a full year trading under $10 in its early days.

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Zooming In on Solana Price Action: Where Does SOL Go From Here?

(SOLUSD)

Another quick look at the 1W timeframe, and then we’ll move on. The latest run’s current bottom range and support cost ~$120. However, the price exceeded the MA50 and was rejected when retested as resistance. Soon, MA100 could be reached – good to watch the reaction. Lose the $120 level, and we might drop below $100.

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Solana had a turbulent 2024. But it is moving slowly now - what is the latest price action giving us as insights? Read along and find out!

(SOLUSD)

Zooming in on the 1D day, we can now see more details. A large untested area ranges from $32 to $50, though it can be extended to $100. We see a clear SFP, break of market structure, and retest of MA200, which was also the previous low, now acting as resistance. Quite the dynamic chart.

For me, it looks like SOL USD is heading lower, unless MA200 is reclaimed. As Matthew said in his X post, the market can move both ways, and it’s good to be ready for either of the two scenarios.

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