Will Solana’s Latest Setback Send Its Price Plummeting to $100?
After reaching its all-time high of $293 in 2025, Solana (SOL) is now trading 54.3% below that peak. This dramatic decline has caused concern among investors, as the cryptocurrency struggles to maintain its momentum. In the latest solana news, analysts are warning of further potential downturns if the coin fails to recover lost ground soon.
Solana’s Struggle to Maintain Key Support Levels
Solana recently faced an 8% drop, hitting a two-week low of $130, a setback that has dashed hopes of a swift recovery. Since losing the crucial $200 psychological barrier in late October, SOL has hovered between $115 and $145. Although the start of the year saw a brief rally, breaking out of a multi-month downtrend, the cryptocurrency has been unable to sustain that momentum. A recent market pullback has once again pushed Solana below key support levels.
Market analysts have noted that Solana’s price structure is attempting to rebound from a local support area. This could lead to a sharp relief rally toward previous highs if the current levels hold. However, another analyst has pointed out that Solana’s price has broken below a two-week ascending trendline, which had bolstered its 17% surge from the yearly opening. The altcoin also fell below the $136 mark, where it had previously found support.
Potential for a Deeper Correction in Solana’s Price
The short-term support for Solana is situated between $129 and $136. A breach of this zone could trigger a deeper correction, potentially sending the price down by 25% to challenge the $100 level. Some market watchers suggest that a macro pattern on Solana’s chart indicates a possible breakdown to new lows. The altcoin displays a two-year Head and Shoulders formation in the weekly timeframe, a bearish pattern that has been forming since 2024.
This pattern has its neckline around the $120 area. If Solana breaches this level, it could spell trouble for the cryptocurrency. A breakdown could lead to a significant decline, with some analysts forecasting a 35%-40% drop toward the $75-$80 range. Despite these concerns, some observers suggest that Solana could defy these bearish predictions. They draw parallels between Solana’s recent performance and the S&P 500’s price action between 2009 and 2011, where a similar pattern was invalidated.
Can Solana Defy the Odds and Rebound?
While some analysts are predicting a steep decline, others believe that Solana could surprise the market by bouncing back from its current predicament. If the altcoin rebounds from its current levels and climbs higher, it could follow the S&P 500’s example and reach new highs. As of now, Solana is trading at $134, marking a 5.6% decline in the daily timeframe.
Investors and traders are closely monitoring Solana’s movements, awaiting signs of a potential turnaround. To stay updated on the latest developments, visit relevant text for more insights. As the market remains unpredictable, only time will tell whether Solana will overcome its current challenges or face further declines.
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