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The post <a href="https://coinpedia.org/price-analysis/sol-price-fall-warns-30-drop-as-pullback-gains-momentum-2/">SOL Price Fall Warns 30% Drop As Pullback Gains Momentum</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With a bearish breakdown of a triangle pattern in the daily chart, the SOL price pullback phase warns of a serious downfall. Leading to the drop in the crypto market, Solana falls under the $100 psychological mark and warns of a trend reversal in 2024.&nbsp; 
Undermining the remarkable bull run in the last weeks of December, Solana tests the $82 mark standing with the 38.20% Fibonacci level. With the technical analysis sirening a breakout signal, the sideline traders are ready to sell.&nbsp; 
Hence, with such growing sentiments of fear around Solana, the upcoming trend warns of the crash. However, to find out more about the long-term picture, check out our <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/">Solana price prediction</a>. 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="483" src="https://image.coinpedia.org/wp-content/uploads/2024/01/23125819/image-124-1024x483.png" alt="" class="wp-image-263497" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/23125819/image-124-1024x483.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/01/23125819/image-124-300x142.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/23125819/image-124-768x362.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/23125819/image-124-1536x725.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/01/23125819/image-124-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/01/23125819/image-124.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
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Source – <a href="https://www.tradingview.com/x/b4VJlmvM/">TradingView</a> 
With a boom in the intraday trading volume, the Solana price takes a nosedive of 7.99% overnight. Further, the daily chart alerts the SOL price fracturing long-coming support trendline and marks a triangle breakdown.&nbsp; 
With the altcoins losing the crucial support of $100 and the support trendline, the bears are gaining control and warning of a trend reversal. Currently, the SOL price trades at $84.54 and tests the 38.20% Fibonacci level.&nbsp; 
With $12 million of long positions liquidating last night, the bulls are exiting Solana at a fast pace. This puts the crucial support levels under extreme pressure, and the struggle to absorb the increased supply grows serious.&nbsp; 
Technical Indicators: 
MACD Indicator: The falling trend in the MACD and signal lines crosses under the halfway line as the SOL price drops to $82. Moreover, with the increasing intensity of the bearish histograms, the bearish momentum is on the rise.&nbsp; 
<h2 class="wp-block-heading" id="h-will-sol-price-downfall-test-50">Will SOL Price Downfall Test $50?</h2> 
Despite the intense sell-off gaining traction and the breakdown signal, the SOL price sustains above the next crucial support of $80. Further, with the 38.20% Fibonacci level providing a cushion, Solana may soon bounce back.&nbsp; 
Nevertheless, the sideline buyers can find the entry at $80 as a great dip to buy opportunity. On the flip side, a downfall under $80, can drop the SOL price to $66.

SOL Price Fall Warns 30% Drop As Pullback Gains Momentum

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