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/" target="_blank" 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 $138.</p>
<blockquote class="twitter-tweet">
 <p>This is it! If <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Solana</a> <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SOL</a> fails to hold above $191, a drop to $138 could be imminent. <a href="https://t.co/vwJzHwCMHI" target="_blank" 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" target="_blank" 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/" target="_blank" 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/" target="_blank" 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_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" 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" target="_blank" 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 href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img 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-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a href="https://captainaltcoin.com/go/etoro/" target="_blank" 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. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/is-solana-dead-analyst-warns-of-sol-price-crash/" rel="noopener noreferrer nofollow">Is Solana Dead? Analyst Warns of SOL Price Crash</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Is Solana Dead? Analyst Warns of SOL Price Crash

Table of Contents

CaptainAltcoin

Other articles published on Feb 3, 2025

Join our free newsletter for daily crypto updates!