Bitget Says Solana Price Stuck In Range Since February, With $100 Breakout Seen As Slim

A Bitget analysis said Solana price action has been “stuck in range” since February, with the report noting that “Since the 4th of May, Solana [$SOL] has rallied 7.2%.”

“Privacy and accountability can coexist onchain, say panelists at Consensus Miami Public blockchains make transactions traceable, but that transparency can come at the expense of user privacy”

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The same Bitget piece said $SOL has remained under a bearish trend even after “four consecutive green days,” and it framed the $100 level as a psychological barrier with “a breakout past the psychological $100 level” described as “slim.”

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Bitget also pointed to on-chain activity, writing that “The new addresses’ growth has been trending downward since March,” while adding that any uptick was “minimal” versus prior bull runs.

The report warned that “a deep price dive below $64, the lower MVRV extreme deviation band, was a possibility investors would have to prepare for,” while also flagging “the $120 resistance, as the -0.5σ level.”

At CoinDesk’s Consensus Miami conference, panelists argued that public blockchains’ traceability can conflict with user privacy, but they said an onchain “intelligence layer” can reconcile both goals.

Moody’s Ratings’ Rajeev Bamra said the conventional intelligence layer answers three questions—“Who is it? What are they doing? And can I trust the record?”—and he described the institutional digital-finance market as “roughly $35 billion today.”

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CoinDesk’s coverage also quoted ChangeNOW’s Pauline Shangett, who said “Bitcoin at its core, at its origin was a semi-anonymous digital cash,” and she argued that ChangeNOW maps “their addresses” rather than identities.

Shangett told the panel that “All of this blockchain forensics infrastructure allows us to not map people who are passing funds through our system, but instead map their addresses,” and she said law-enforcement requests receive transaction data “without doxing the person behind the transaction.”

CoinDesk’s Consensus Miami panelists connected their onchain architecture proposals to regulation, with Bamra saying cross-border frameworks ask similar questions but diverge in execution.

“Public blockchains make transactions transparent enough to trace, audit and police, but that visibility can come at the expense of user privacy”

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Bamra said, “We think there is regulatory convergence in intention, but there’s fragmentation in reality or in execution,” while also describing how blockchain architecture would be “a hybrid” rather than uniformly public or private.

Shangett framed liability around the agents she said should be held responsible, arguing that “The agents who should be held liable for the regulatory frameworks and the adoption thereof are agents who are dealing with emission and not transmission.”

In parallel, Bitget’s Solana analysis laid out market levels it said investors would need to watch, including the possibility of “below $64” and the “$120 resistance,” as it described $SOL’s range formation since February and the slim odds of breaking above $100.