Solana at Risk: Analysts Warn of 30% Drop Below $100

Solana (SOL) has recently plunged nearly 20% from its early Q4 highs, trading around $156. Technical analysts are cautioning that this correction may continue, warning that a break below the long-term ascending trendline established since 2023 could trigger a significant 30-40% decline, potentially pushing SOL below the critical psychological support level of $100. One analyst noted that $122 is a high-risk entry point, while $200 remains the key resistance level.

Despite the bearish price action, on-chain data shows robust ecosystem health, with Solana processing more transactions and generating higher DEX volume than Ethereum recently, and attracting stablecoin inflows. However, analysts stress that SOL's short-term price movement is heavily dependent on Bitcoin stabilizing above key supports near $95,000. Defending the $150-$160 range is crucial to prevent a structural breakdown, though the Solana team remains optimistic about long-term resilience.

(Source：BeInCrypto)