Crash

Ethereum

Solana

<p>The Solana price is trading slightly below $200 following <a href="https://captainaltcoin.com/heres-why-the-crypto-market-is-crashing-the-worst-day-in-history/" rel="noopener noreferrer nofollow">the recent market crash</a>. However, SOL has shown remarkable resilience compared to other altcoins, with Ethereum down 15% in the last 24 hours while Solana only dropped 4.5%.</p><p>Crypto analyst Ali Martinez has spotted some worrying signs for Solana holders. His technical analysis shows several key Fibonacci retracement levels that traders are watching closely – $138.09, $169.71, $179.63, and $204.04. Right now, SOL is hovering near the 0.618 Fibonacci level at $204.04, which typically acts as strong support in bullish markets but could become resistance if broken.</p><p>The SOL price is also moving in an upward channel with clear trendlines. The lower boundary of this channel sits right at $191, which Martinez flags as a crucial support level. If Solana drops below $191, we could see a sharp decline to $138.</p><blockquote class="twitter-tweet"><p>This is it! If <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Solana</a><a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> fails to hold above $191, a drop to $138 could be imminent. <a href="https://t.co/vwJzHwCMHI" rel="noopener noreferrer nofollow">pic.twitter.com/vwJzHwCMHI</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1886210486217433187?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 3, 2025</a></blockquote><p>Recent price action hasn’t been encouraging. The latest candles show sellers taking control in the short term. While previous dips below $191 saw quick recoveries as buyers stepped in, repeated testing of this support level makes a breakdown more likely.</p><h2 class="wp-block-heading" id="what-could-happen-next-for-solana">What Could Happen Next for Solana?</h2><p>There are two main scenarios playing out. If SOL manages to hold above $191 and regain momentum, it could climb back to $220 and possibly $240. However, if it breaks below $191, Martinez warns of a potential drop to $138 – a level that lines up with both Fibonacci support and historical price patterns.</p><p>Despite these concerning technical signals, Solana’s ecosystem remains active. The network’s resilience during recent market turbulence suggests it still has strong backing from investors and developers. While the short-term price action looks shaky, calling Solana “dead” seems premature given its continued adoption and <a href="https://captainaltcoin.com/solana-on-chain-metrics-explode-as-sol-price-eyes-new-ath/" rel="noopener noreferrer nofollow">recent development activity</a>.</p><p><em><strong>Read also: <a href="https://captainaltcoin.com/time-to-buy-as-crypto-prices-dip-3-underrated-altcoins-ready-to-skyrocket-in-february/" rel="noopener noreferrer nofollow">Time to Buy as Crypto Prices Dip? 3 Underrated Altcoins Ready to Skyrocket in February</a></strong></em></p><p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p><div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""><div class="col_wrap_two mb0"><div class="offerbox_big_wrap flowhidden"><div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" rel="noopener noreferrer nofollow"><img class="lazyload" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"></a></div><div class="product-summary col_item mobileblockdisplay"><h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" rel="noopener noreferrer nofollow"><span>We recommend eToro</span></a></h3><div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. 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Is Solana Dead? Analyst Warns of SOL Price Crash

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