Solana (SOL) traded near $110.46 on October 9, slipping approximately 4% in the past 24 hours. The cryptocurrency briefly touched an intraday low of $105.87 before paring some losses, according to data from Investing.com.
Standard Chartered revises price targets
Standard Chartered, a major international banking group based in London, reaffirmed its year end target of $250 for SOL in its latest digital asset outlook. The projection implies a gain of about 126% from its current price, indicating significant upside in less than three months.
The bank’s digital-assets research division, led by Geoffrey Kendrick, adjusted its 2026 target for Solana earlier in the year, reducing it from $310 to $250. Despite this short-term downgrade, the team increased long-term expectations for the token.
Standard Chartered now forecasts SOL to reach $400 in 2027, $700 in 2028, $1,200 in 2029, and $2,000 by 2030. Kendrick and his team noted that Solana is evolving away from a reliance on memecoin trading, shifting toward a focus on stablecoin-driven micropayments.
Mini dictionary: Standard Chartered is a multinational banking and financial services company headquartered in London and operates in more than 60 countries globally. Its digital-assets team provides specialized research and forecasts on cryptocurrency markets.
Standard Chartered anticipates that Solana will shift from memecoin trading activity toward increased adoption of stablecoin-based micropayments in the coming years, with long-term targets as high as $2,000 by 2030.
Short-term price action and technical levels
SOL’s recent decline has pushed the coin below technical support levels in the $117 to $120 range, which had previously acted as a key area for buyers. On October 8, the latest selloff drove Solana under $110 before rebounding slightly amid renewed buying interest near $106.
During the session, SOL fell by 5.79%, following a 3.67% decline the previous day. The $110 level has emerged as a critical zone for traders as bulls and bears contest short-term market direction.
If Solana succeeds in regaining the $117 threshold, market observers believe sentiment could improve, and a return above $120 may open the door for retesting September’s highs. The area between $117 and $120 remains a key technical resistance that traders are watching closely after SOL’s earlier breakout above $110.
| Year | Standard Chartered Target ($) |
|---|---|
| 2026 | 250 |
| 2027 | 400 |
| 2028 | 700 |
| 2029 | 1,200 |
| 2030 | 2,000 |
Standard Chartered’s technical analysts emphasized that a sustained recovery above $117 would strengthen the outlook for SOL, while a move above $120 could bring previous highs back into focus.
As market volatility persists, traders continue to monitor key support and resistance levels for Solana while weighing Standard Chartered’s upward targets for the coming years.
