Based

Rally

Solana

Billion

/send

Several analysts have given their opinion on what lies ahead for <a href="https://www.newsbtc.com/news/solana/solana-headed-to-100/">Solana (SOL)</a>. Based on their prediction, the crypto token could experience a further move to the downside as part of a price correction that seems overdue following its <a href="https://www.newsbtc.com/news/solana/solana-2024-roadmap-key-price-targets/">parabolic rise back in 2023</a>, when it saw a gain of almost 1,000%.&nbsp; 
<h2 id="sol-could-drop-to-as-low-as-70">SOL Could Drop To As Low As $70</h2> 
<a href="https://www.newsbtc.com/news/ethereum/predictions-eth-price-ethereum/#:~:text=Bullish%20Predictions%20For%20Ethereum's%20Price&amp;text=According%20to%20him%2C%20the%20crypto,viable%20target%20for%20ETH's%20price.">Crypto analyst Bluntz Capital</a> suggested in an X (formerly Twitter) post that Solana could drop to as low as $70. From the chart that he shared, he looked to be analyzing SOL’s price movement using the <a href="https://bitcoinist.com/bullish-or-bearish-bitcoin-price-elliott-wave/" rel="nofollow">ABC pattern</a>, with a move to $70 being the C wave. If SOL were to drop to that price level eventually, Bluntz mentioned that he would be “max bidding SOL” as he foresees a further move to the upside once the correction is done.&nbsp; 
<img loading="lazy" decoding="async" class="alignnone size-medium wp-image-571227 aligncenter" src="https://www.newsbtc.com/wp-content/uploads/2024/01/XRP-1.png?w=460&amp;resize=460%2C191" alt="Solana" width="460" height="191" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/XRP-1.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2024/01/XRP-1.png?w=460&amp;resize=460%2C191 460w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
Professional Crypto Derivative Exchange Bitunix <a href="https://x.com/bitunix/status/1749794447775461740?s=20" rel="nofollow">shared</a> their <a href="https://www.newsbtc.com/news/solana-is-not-done-analyst-identifies-bull-flag-that-will-trigger-massive-rally-above-150/#:~:text=How%20Solana%20Could%20Rise%20To,a%20sustained%20close%20above%20%24106.">SOL price analysis</a> in an X post. They highlighted how the crypto token has broken out of its triangle, something which signals more downside ahead. <a href="https://www.newsbtc.com/news/solana/solana-2024-roadmap-key-price-targets/">SOL may initially fall</a> to as low as $76 as a result of this. If it fails to hold above the support at that price level, a further decline towards $65 could occur, Bitunix claims.&nbsp; 
Related Reading: <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-500-investment-50000/">Bitcoin Recovery: This Massive $500 Billion Investment Could Send Price Above $50,000</a> 
Technical analyst LuxAlgo also <a href="https://x.com/LuxAlgo/status/1749800665822691743?s=20" rel="nofollow">hinted</a> at a price decline to $76 based on the chart, which they shared in an X post. They noted that Solana had broken its lows as expected and raised the possibility of a “steeper drop” being imminent.&nbsp; <img loading="lazy" decoding="async" class="alignnone size-medium wp-image-571228 aligncenter" src="https://www.newsbtc.com/wp-content/uploads/2024/01/XRP-2.png?w=460&amp;resize=460%2C228" alt="SOL" width="460" height="228" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/XRP-2.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2024/01/XRP-2.png?w=460&amp;resize=460%2C228 460w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
Meanwhile, crypto analyst Tryrex Crypto <a href="https://x.com/Tryrexcrypto/status/1749356969784197424?s=20" rel="nofollow">stated</a> that he is betting on a <a href="https://www.newsbtc.com/analysis/sol-price-prediction-solana-drop-68/#:~:text=Initial%20support%20on%20the%20downside,support%20in%20the%20near%20term.">crash back to $71</a> for SOL. He mentioned how tempting it might be to open a long position right now and expect a bounce on the current support level. However, he seemed skeptical of such a move as he claims that the previous bounce was “too weak to maintain the trend.” 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/CxHzbnMx/" alt="Solana price chart from Tradingview.com" width="3266" height="1530"> 
<h2 id="solana-to-150-once-all-is-said-and-done">Solana To $150 Once All Is Said And Done</h2> 
In a more recent <a href="https://x.com/Bluntz_Capital/status/1750059875990999227?s=20" rel="nofollow">X post</a>, Bluntz stated that the SOL ABC pattern is “starting to look done now.” If that is the case, he expects a <a href="https://www.newsbtc.com/news/solana/sol-price-forecast-takes-bearish-turn-prepare-for-potential-plummet-to-30-or-lower/">trend reversal</a> as the next move to the upside should send SOL to above $150. In the meantime, he said that the <a href="https://www.newsbtc.com/news/solana/solana-price-will-climb-to-750/">crypto token</a> is trying to test and reclaim its prior breakdown range.&nbsp; 
Interestingly, crypto analyst Ali Martinez had raised the <a href="https://www.newsbtc.com/news/solana-is-not-done-analyst-identifies-bull-flag-that-will-trigger-massive-rally-above-150/#:~:text=How%20Solana%20Could%20Rise%20To,a%20sustained%20close%20above%20%24106.">possibility of Solana rising to $150</a> in one of his previous price analyses. However, SOL then failed to close above the <a href="https://www.newsbtc.com/analysis/sol-price-reaches-90/">$106 price level</a>, which Martinez had highlighted as being critical for this price prediction to materialize. Bluntz’s prediction no doubt provides optimism that the $150 price level remains a possibility.&nbsp; 
At the time of writing, SOL is trading at around $86, up over 6% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/solana/" rel="nofollow">data</a> from CoinMarketCap.

Analysts Reveal Next Steps As Solana Corrects Hard After 1000% Rally

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