Analyst Predicts Solana Price Could Plummet 75% Amid Market Volatility
Solana's (SOL) price faces a crucial support test as analysts warn of potential downside risks.
Key Points
- Solana's price fell below the $180 support, attempting to recover past $210 but remained volatile.
- Analyst Crypto Bullet predicts up to a 75% drop if current patterns continue, forecasting an ABC corrective wave with potential short-term bounce before further decline.
- The B wave might be complete, but a higher high could occur before a significant drop to around $40.
- Analyst Ted Pillows highlights issues with Solana treasury companies, indicating potential difficulty in price recovery due to halted institutional bidding.
- Despite bearish sentiments, some see a possible bullish scenario if SOL holds above $170, potentially retesting $200-$210.
- Crypto Yapper notes a double support retest at $170-$180, suggesting a 15%-20% potential bounce.
Currently, SOL trades at $182, marking a 12.6% daily decline.
