Solana (SOL) Price Prediction: Will SOL Price Rise After Trump's Meme Coin Debut?

Recently, Solana's price surged, reaching a key target zone and hit new ATHs. However, following this rally, it has experienced a pullback

Solana’s price has experienced a pullback after reaching new all-time highs (ATHs) recently. The altcoin, which saw a surge in price following the launch of Donald Trump’s meme coin, has now encountered resistance at a key Fibonacci support zone.

After hitting new ATHs, Solana’s price encountered resistance and began to pull back. The pullback became more evident after the price broke below a trendline, indicating a corrective phase. Despite the pullback, Solana has still managed to gain more than 48% in the last seven days.

As mentioned earlier, Solana’s blockchain is hosting Trump’s meme coin, which has played a significant role in the altcoin’s recent performance. Compared to other major cryptocurrencies, Solana performed better over the weekend thanks to the meme coin, which is set to expire on January 20.

With Trump’s inauguration approaching, both Solana and the Trump meme coin are expected to remain in the spotlight. The next few days will be interesting to watch, especially in terms of how the price reacts at the support zone.

If the price reacts positively at the support zone, the coin may see a rebound toward higher levels, possibly approaching the next major resistance around $360–$380. However, if the price continues to struggle below the $247 support, there could be more downside ahead, potentially testing the $234 level or lower.

The $247 level is particularly important, as it could determine whether the price will find support and bounce back or face further declines. If the price holds above $234, the outlook remains positive, but a drop below this level could signal more weakness and a possible continuation of the downtrend.