Solana Slides to $147, Down 8%, Despite Bullish $275 Forecast From Standard Chartered

Solana’s SOL Drops to $147 as Price Lags Behind Standard Chartered’s $275 Target

Solana’s token SOL tumbled nearly 8% on Thursday, slipping to $147.07 despite a recent bullish forecast from Standard Chartered, which set a year-end price target of $275—almost 90% above current levels.

The sell-off came amid renewed crypto market volatility. SOL opened the day at $159.60, but selling intensified during late-night hours, dragging the token down to an intraday low of $142.13 before it rebounded slightly. Though buyers stepped in to defend key support levels, the broader structure remains shaky, with SOL now trading well below its March highs.

This disconnect between current price trends and Standard Chartered’s optimistic outlook is fueling debate among traders and long-term holders. The bank’s May 27 report cited Solana’s speed, low fees, and growing developer ecosystem as reasons for long-term confidence, adding a $500 price target by 2029. However, the report also acknowledged skepticism over Solana’s recent meme-coin-driven growth, suggesting the market hasn’t fully priced in its infrastructure potential.

As SOL underperforms, the question for investors becomes whether the current pullback is a buying opportunity or a signal that expectations are ahead of fundamentals. Standard Chartered framed Solana as a high-risk, high-reward bet on a retail-centric blockchain narrative—one that could re-rate quickly if broader adoption materializes.

For now, price action remains choppy, with bulls defending the $143–$144 zone and bears capping momentum near $150–$152. With limited on-chain catalysts and a fragile macro backdrop, SOL’s ability to reclaim bullish momentum may hinge on stronger developer traction and ecosystem expansion beyond meme tokens.

Key Technical Highlights:

SOL fell 11.87% intraday, from $160.49 to $142.13, before stabilizing near $147.
Major sell pressure hit between 23:00 and 01:00 UTC, establishing support at $142–$143.
A tight range formed between $143.50 and $146.50, with signs of mild accumulation.
Volume spikes at 13:31 (31.8K SOL) and 13:39 (43.4K SOL) show defensive buying at support.
Near-term resistance at $152 could define whether SOL breaks higher or resumes its downtrend.