Summary Points
- Solana (SOL) has dropped over 12% last week and is struggling to break above $88, with potential further decline towards $78.
- Analysts warn that a daily close below $82–$84 could be bearish, especially with recent Goldman Sachs exit signals.
- Despite bearish signals, some remain optimistic, predicting SOL could reach $135 and expecting a market reversal amid widespread fear.
- Market sentiment is mixed, with institutional inflows into spot SOL ETFs increasing even as major exits like Goldman Sachs’ suggest cautious optimism.
Solana (SOL) in Danger: Here’s Why the Price Could Plunge by Double Digits
Recent Market Drop and Technical Patterns
The cryptocurrency market has faced a sharp decline lately. Most digital assets are down, and Solana (SOL) is no exception. Over the past week, SOL’s price dropped by more than 10%. Some experts believe it could fall further. Earlier this month, analyst Ali Martinez looked closely at SOL’s price movements. Since February, SOL has been trading within a specific range. He identified $98 as the high point and $78 as the low point. Martinez said that if SOL breaks above $98, it could rise further. He also mentioned $88 as a key level to watch. But lately, SOL remains below $88, trading around $84.50. This marks a 12% weekly decline. Because of this, some analysts think SOL may drop to near $78 soon.
Market Sentiment and External Factors
Trader Martinez warned that SOL failed to hit its bullish target. He suggests the price could slide to the bottom of the channel at $78. Meanwhile, another analyst, Ted, expressed concern about the recent trend. He pointed out that SOL’s Relative Strength Index (RSI) no longer shows an uptrend. Ted said that if SOL closes below $82 to $84, it could be a bad sign for the coin. Adding to worries, Goldman Sachs recently exited its SOL ETF during the first quarter of 2026. This move sends a cautious message to the market. However, some positive signs remain. Inflows into spot SOL ETFs have continued, showing ongoing interest from institutions. The last day of significant decline was April 30. Despite the fears, some traders remain optimistic. They suggest looking at a longer time frame. One trader predicts SOL could eventually reach $135. Others see current lows as an opportunity for a big market reversal.
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Disclaimer
This content is for informational and entertainment purposes only and does not constitute financial or investment advice. Cryptocurrency is highly speculative and carries significant risk, including the potential loss of your entire investment. This information may be outdated or incomplete. Do not make financial decisions based on this information. Consult a licensed financial advisor before investing. This site does not offer, sell, or advise on cryptocurrency, securities or other regulated financial products in compliance with SEC and applicable laws. Please do your own research and seek professional advise.
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