Solana (SOL) Price Prediction for May 25

Crypto Markets Exhibit Bearish Sentiment Toward Week's End

According to the latest data from CoinMarketCap, the cryptocurrency markets are displaying a more bearish than bullish sentiment as the week comes to a close.

The price of Solana (SOL) has seen a 2.50% decline since yesterday, although it has managed to eke out a 0.37% gain over the past week.

On the hourly chart, SOL has experienced a false breakout from the local support level of $170.36, and the price is currently hovering near this threshold. If no bounce-back occurs by the end of the day, the market may witness a test of the $165-$170 range.

Looking at the bigger picture, the bears appear to be gaining the upper hand as the daily candle is on the verge of closing below yesterday's low. Should this scenario play out, traders may soon see a test of the $160 area.

From a medium-term perspective, neither the bulls nor the bears are firmly in control, as the price is still trading far from the key levels. In this case, the more likely scenario is sideways trading around the current prices.

At the time of writing, Solana (SOL) is trading at $170.73.