Solana predicted a significant decline

Well-known cryptocurrency analysts have shared their forecast for the value of the token of the Ukrainian developer Solana (SOL). Experts are convinced that SOL will drop to much lower prices before resuming its bullish momentum.

As Bluntz told his 237,900 followers on the social network X, SOL $196.66 Solana 5.37% Market capitalization $92.74 billion VOL. 24 hours $0.89 billion reflects the price behavior of bitcoin at the end of 2018. Back then, the asset crashed before witnessing a parabolic surge.

According to Bluntz, Solana broke below the support of the triangular pattern and is now on its way to its lower price target. «Maybe we’ll get a last exit, or maybe it’ll fly right through support, I’m not sure. All I know is that if we go below $ 70, I will be putting in a maximum SOL bet,» the analyst wrote.

At the same time, trader Pentoshi also informed his 744,100 subscribers about the likely return of SOL to support at $ 70. According to Altcoin analyst Sherpa, SOL is expected to fall to the 0.50 Fibonacci retracement level.

As for the future of Solana, crypto industry analysts say that SOL has the potential to grow if the network continues to attract interest from projects that value its stability amid high demand for network processing. This is especially true when many competitors are facing rapidly rising transaction fees or prolonged instability.