SOL Price Prediction: Can SOL Reach $200 Amid Technical Consolidation and Security Concerns?

#SOL

• SOL trading slightly below 20-day MA at $142.47 indicates short-term consolidation phase
• Negative MACD momentum and security breaches create headwinds for price appreciation
• $200 target requires breaking through multiple resistance levels amid negative sentiment

SOL Price Prediction

SOL Technical Analysis

According to BTCC financial analyst Robert, SOL is currently trading at $142.47, slightly below its 20-day moving average of $142.52, indicating potential short-term consolidation. The MACD reading of -3.6408 suggests weakening momentum, though the price remains within the Bollinger Bands range of $120.21 to $164.84. Robert notes that maintaining above the middle band could signal renewed bullish momentum toward the upper resistance level.

Market Sentiment Analysis

BTCC financial analyst Robert highlights concerning developments in the solana ecosystem. Recent security breaches including Upbit's $36 million loss and malicious Chrome extensions targeting Solana traders create negative sentiment. Additionally, Bubblemaps reports showing US accounts linked to 50% of bundled meme token launches raise regulatory concerns. Robert suggests these factors may temporarily pressure SOL's price despite technical indicators showing relative stability.

Factors Influencing SOL's Price

US Accounts Linked to 50% of Bundled Meme Token Launches, Bubblemaps Reports

Half of all bundled meme token launches trace back to US-based X accounts, according to blockchain analytics firm Bubblemaps. The findings highlight persistent concerns about cabal-style token launches undermining trust in permissionless launchpads.

Bubblemaps' investigation revealed geographic concentrations by cross-referencing underperforming assets with X account locations. The United States accounted for 50% of identified launches, with minimal activity from the EU and only two India-based creators. "Turns out the USA is the top X location for bundled tokens," the firm noted in a Thanksgiving Day post.

These bundled tokens frequently employ tactics like hidden team allocations and multi-wallet obfuscation. Insider sniping and coordinated pumps remain prevalent, particularly on high-throughput networks like solana that dominate meme token activity.

Malicious Chrome Extension Targets Solana Traders, Siphons Funds

A newly discovered Chrome extension, Crypto Copilot, has been stealthily draining funds from Solana traders. Available on the Chrome Web Store since June 2024, the extension disguises itself as a tool for executing Solana trades directly from X feeds. Behind the facade, it injects unauthorized transfers into Raydium swaps, diverting at least 0.0013 SOL (0.05% per transaction) to an attacker-controlled wallet.

Socket's Threat Research Team uncovered the scheme, revealing that the extension constructs legitimate-looking swap instructions while appending hidden transfers to wallet address Bjeida. Traders see only the approved swap in their interfaces, with most wallets displaying high-level summaries that obscure the malicious activity. The fee logic is hardcoded and obfuscated within layers of JavaScript, applying either a minimum fee or a percentage-based charge—whichever is greater.

Upbit Suffers $36 Million Solana-Based Assets Security Breach

South Korea's largest cryptocurrency exchange, Upbit, experienced a significant security breach early Thursday, resulting in the loss of $36 million worth of Solana-based assets. Dunamu Inc., the operator of Upbit, confirmed unauthorized withdrawals from company wallets, with the breach detected at 4:42 a.m. local time.

The stolen assets included a variety of tokens within the Solana ecosystem, such as Bonk, Jupiter, and USD Coin. Upbit CEO Oh Kyung-seok stated the abnormal activity was contained once identified, but the funds had already been transferred to an external wallet. The incident underscores ongoing vulnerabilities in digital asset security despite advancements in blockchain technology.

Will SOL Price Hit 200?

Based on current technical indicators and market sentiment, BTCC financial analyst Robert provides this assessment for SOL reaching $200:

Robert indicates that while the $200 target represents significant upside potential, current technical weakness combined with negative news flow suggests this level may not be achievable in the immediate term without substantial positive catalysts.