- An analyst warns Solana could fall sharply if it fails to hold a key support level, despite community skepticism.
- Recent institutional interest and network partnerships have not translated into stronger price performance.
- Broader crypto-market weakness is increasing downside pressure on Solana unless a Bitcoin-led rebound occur
Solana’s future hangs in the balance as uncertainty looms in the crypto market. An analyst says the price could crash to as low as $24 if it loses the $144 price as there’s no “meaningful” demand for the asset until that price.
The analyst known as Ali shared this data in an X post, which has attracted backlash from Solana fans following him.
Already, the price of the coin has dropped below the $144 threshold Ali points to. Will things turn around or Solana is about to see an apocalyptic crash?
Solana’s Price Defies Fundamentals
For anyone who has been following the development around Solana, the idea of a crash to $24 should sounds insane. Following their launch, the new Solana ETFs saw seven whole days of consistent inflow.
Western Union also recently chose the network instead of Ripple to build its blockchain infrastructure, which was a big win.
Despite all these positive developments, the price of SOL doesn’t seem to be showing the effect, particularly with Ali’s analysis.
Many of his followers don’t believe that his prediction will come to pass, but he has accurately predicted the price movements of other coins in the past so this cannot be completely ignored.
Crypto Market Offers Little Hope
The prediction that Solana could go to $24 before finding reasonable support is a disturbing one, and the crypto market currently doesn’t give much hope.
Bitcoin has just dropped to $97,000 for the first time in six months, dragging altcoins with it. Ethereum and other altcoins have broken below major support levels, suggesting price may go lower.
With this trend, Solana may crash significantly and probably reach the $24 target unless there’s a sudden rebound led by Bitcoin.
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What do you think?
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