Solana (SOL) is currently navigating a high-stakes technical test, trading near its 10-month lows as the market digests a 60% drawdown from its 2025 peak. Despite this immediate weakness, institutional sentiment remains strikingly resilient.
Standard Chartered analyst Geoffrey Kendrick issued a bold projection, forecasting that SOL will reach $2,000 by the end of 2030, driven by a structural transition from “speculative assets” to “global payment infrastructure.”
In the past days Solana is trading in a volatile range between $97 and $104. This zone represents a critical “must-hold” floor that has historical significance dating back to the late 2024 recovery phase.
The current market structure for Solana is one of aggressive compression. Following a rejection at the $127 resistance in late January, price action has entered a descending channel, leading to the current retest of the psychological $100 level.
The bank’s $2,000 target is predicated on Solana’s evolution into a “micropayments powerhouse.” Kendrick argues that the network’s ultra-low median fee of $0.0007 — approximately 20 times cheaper than competing Layer-2s like Base — enables economic use cases that are impossible on traditional or other blockchain rails.
Standard Chartered has revised its near-term expectations while raising its long-term ceiling, reflecting a “selective positioning” approach.
The current structure for Solana is a classic “fundamental vs. technical” divergence. While the price action is currently defensive, the underlying metrics, specifically stablecoin velocity and institutional inflows, suggest that a new sector of utility is opening up. For now, the structure favors cautious accumulation at these levels, but definitive confirmation of a reversal requires a reclaim of the $115 resistance band.
