Future Solana Value speculation: Will bulls reestablish $200 or will bears drive prices towards $180?

Solana, the popular cryptocurrency, is currently testing a significant level on its weekly chart - the Ichimoku cloud. This cloud, which has thinned out compared to previous months, acts as a potential battleground for the digital asset.

The key support zone for Solana currently lies in the mid-$190s, with a potential risk area stretching towards $182. If the price were to breach this support, it could signal a bearish trend. However, a thinner Ichimoku cloud often signals reduced resistance, making it easier for price to break through if momentum builds.

Solana's decentralized exchange (DEX) activity has seen a sharp decline, with daily volumes dropping to their lowest levels since mid-2024. This decline in activity, coupled with a steep decline in unique trader counts, suggests weaker participation in on-chain trading. Lower trading activity often translates into thinner liquidity, which can magnify volatility during sharp moves.

The $206 to $210 region acts as a pivot for Solana. Holding below this region keeps pressure intact, while a clean move above would shift momentum back to buyers. Solana is once again pressing against this resistance, an area where price has repeatedly stalled in recent sessions. A rejection at this level would keep the Solana price prediction towards $180 intact.

For Solana to avoid the bearish price prediction, it would need to reclaim the $200 to $210 range with conviction. Clearing the $206 to $210 resistance would shift momentum and confirm renewed strength, allowing Solana to re-establish a bullish trajectory.

The market sits at a crossroads, and buyers need a decisive reclaim to keep control. If Solana manages to close above the Ichimoku cloud, it would suggest a shift toward a stronger bullish trend. Conversely, a rejection at the cloud would keep the Solana price prediction bearish.

Notable analysts following Solana include Brian Armstrong from Coinbase, Sam Bankman-Fried associated with FTX, and Anatoly Yakovenko from Solana Labs. Their analyses are primarily based on platforms like Coinbase Research, FTX Analytics, and Solana Labs reports.

It's worth noting that the Elliott Wave structure suggests a potential path towards the $85 to 90 area if Solana loses its current footing. This area has historically acted as a major demand base. However, a potential breakout or rejection of the Ichimoku cloud will define Solana's next major trend.

In conclusion, the upcoming days will be crucial for Solana as it tests the Ichimoku cloud on its weekly chart. The outcome of this test could significantly influence the future trajectory of the cryptocurrency.