SOL, HBAR, and JUP: Key Developments and Market Outlook

Solana’s network recently recorded a historic surge in decentralized exchange (DEX) activity, driven in part by the launch of the OFFICIAL TRUMP (TRUMP) memecoin. Trading volumes surpassed $200 billion in a single month—an achievement unmatched by other networks to date. This spike briefly propelled Solana (SOL) above a short-term price consolidation, although bearish resistance soon took hold.

Will Solana Break $270 or Crash to $175?”

At press time, SOL trades at $235.28, down 8.79% over the past 24 hours. The cryptocurrency’s price fluctuated between $245.34 and $270.27 during this period. The pivotal resistance near $270 has been tested five times in recent days, hinting that bulls are attempting to break out of the consolidation zone.

From a technical perspective, SOL is consolidating within a descending triangle, a pattern often signaling potential bearish continuation. The $240.95 support aligns with the 0.618 Fibonacci retracement level, making it a critical zone to watch.

A breakdown below this level could push SOL toward $229.92, with a further downside target near $175.51, based on the 1.618 Fibonacci extension. However, a decisive move above $270 could signal bullish continuation, supported by increased trading volume.

Market sentiment remains optimistic for Solana despite short-term price challenges. Rose Premium Signal predicts SOL could hit $800, with a potential stretch to $1,000 by mid-2025, citing strong fundamentals.

Armando Pantoja echoed this, projecting $1,000, backed by a 35% recent price increase and key technical indicators. In contrast, Ito Shimotsuma expects a more modest rise above $500.

In the derivatives market, open interest declined by 2.13%, dropping to $7.12 billion. This reduction suggests waning speculative activity as traders await clearer signals on whether SOL will break above $270 or fall toward $175.

Hedera (HBAR) and the Road to $5

Hedera Hashgraph (HBAR) is trading at $0.3103, down 9.59% over the past 24 hours, marking a decline from its recent recovery near $0.34. To reach the $5 price target, HBAR would need a market capitalization of $250 billion, assuming its circulating supply remains unchanged.

Optimistic forecasts—like Crypto Kip’s—point to Hedera’s adherence to ISO 20022 and robust institutional partnerships as catalysts for significant growth. More conservative projections from DigitalCoinPrice and Stealthex place HBAR’s 2025 ceiling closer to $0.80 to $0.88.

From a technical standpoint, HBAR is showing signs of consolidation within a symmetrical triangle. Resistance is at $0.38, a key level tied to the 0.618 Fibonacci retracement from its recent high of $0.48 to the current low. Breaking above this could drive the price toward $0.42, while failure to hold above $0.31 support might lead to further downside.

JUP Soars Amid Token Burn Announcement

On the Solana-based DEX aggregator Jupiter, community members gathered at the “Catstanbul 2025” event for key announcements about its governance token JUP. Jupiter’s pseudonymous founder, “Meow,” revealed a plan to burn 3 billion JUP tokens—valued at $3.6 billion—to reduce emissions and lower fully diluted valuation.

Additionally, 50% of protocol fees will go toward token buybacks, with the rest allocated to operations and development.

Technically, JUP’s price remains volatile. The token faced rejection at the $1.15 resistance level, with the 4-hour chart showing a pullback to $0.96. The Relative Strength Index (RSI) sits at 50, indicating neutral momentum. If JUP clears the $1.15 resistance, it could test $1.30, while a drop below $0.90 might expose the $0.70-$0.75 support zone.

Kiran Gadakh, a crypto trader, highlighted JUP’s recent price swings. These include a 70% rally, as a case for patience and fundamental analysis over reliance on patterns.

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