Solana (SOL) has once again reached a crossroads. According to analyst Ali Martinez, if the price drops below the key level of $125, we could witness a spectacular crash down to $60. Martinez notes that for the past year, Solana has been moving in an expanding triangle pattern, where each rise encounters strong resistance, and a downward breakout could result in significant losses.
Solana on the Edge? The Critical $125 Level ⚠️
Martinez emphasizes that each time Solana hits a new high, it gets rejected by resistance and returns to lower levels. Currently, the $125 level serves as the last line of defense. If it’s broken, we could see a sharp decline, potentially dropping the value of SOL by 60%. This prediction may worry investors, but not everyone shares such a pessimistic outlook.
Bullish Predictions – Mister Crypto 🐂
On the other hand, Mister Crypto points out that Solana is building a bullish formation and could soar higher. He refers to the classic “Three Drives” pattern, which previously resulted in gains of 63%, 100%, and 110%. If history repeats itself, SOL could break out to new highs.
Attempting a Comeback After Mixed Market Reactions 🔄
Solana is trying to make a comeback, despite mixed reactions to its inclusion in Trump’s strategic cryptocurrency reserve. Unfortunately, the capital outflow from both stock and crypto markets hasn’t helped its recovery.
What’s Next? A Cliff or Record Highs? 📉📈
Currently, the price of SOL hovers around $150, but it struggles to break through this level, which could indicate ongoing challenges.
On one hand, we have pessimists predicting a 60% drop, while on the other hand, optimists believe that Solana could still reach $500. Analyst Trader Tardigrade predicts massive gains, while ChatGPT sees SOL in the $200 range.
The next few days could be crucial for Solana’s future. Will the $125 level hold, or are we in for a plunge?
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