Analyst Predicts Solana Price Could Fall 26% to $90

Analysts forecast a potential decline in Solana (SOL) price to $90, representing a 26% drop. This follows a recent downturn where Solana has lost most of its yearly gains after a significant price crash.

Key Points

• Current bearish momentum attributed to market conditions.
• TradingView analyst MadWhale predicts further decline if support is not found.
• Price movement indicates a downtrend within a Descending Channel.
• Resistance identified around the $130 mark; failure to break this could lead to the projected drop.
• $90 level serves as potential monthly support and accumulation zone.
• Market sentiment is currently low, with Fear and Greed index at 34 indicating extreme fear.
• CoinCodex data shows more red days than green over the last month, reinforcing a bearish trend.
• Despite negative sentiment, some analysts believe "smart money" remains bullish, suggesting possible future reversals.