- Solana needs to hold $124 to prevent a potential drop to $115 or lower.
- Technical analysis suggests Solana could rise to $157, with $148 as resistance.
- Long-term prediction warns of a potential fall to $20–$40 by 2026 despite short-term gains.
Solana ($SOL) has shown signs of volatility, with experts closely monitoring its price movements. At press time, the price stands at $136.42, reflecting a 4.25% increase in the last 24 hours
According to Ali Martinez, a respected crypto analyst, Solana must maintain the $124 price point to prevent a deeper decline. If the price breaks below this critical level, it could drop further toward $115 or even as low as $106.
Martinez highlighted, “The $124 support is crucial for Solana’s stability. If the price falls below this level, we may see a larger price decline.”
For now, the price is holding above this critical support, but traders are cautious about potential movements in the coming days. Resistance levels are seen around $138 and $148, where any breakout could signal a bullish trend.
Resistance Levels and Bullish Target of $157
Meanwhile, analyst Nihilus predicts a target price of $157 for Solana. His analysis suggests that the cryptocurrency could rise if it manages to break through the key resistance levels around $148.
Nihilus recommends a stop-loss at $127.19 for anyone trading Solana, given the market’s volatility. The price action currently suggests that a rise to $157 is possible, but it will depend on overcoming the resistance at $138.
Long-Term Bearish Outlook Despite Short-Term Potential
However, AlΞx Wacy has predicted that the price of Solana could fall drastically by 2026, potentially reaching a range of $20–$40. According to Wacy, while a new all-time high (ATH) could be achieved in the short term, a significant price correction could follow.
Despite the optimism surrounding Solana’s short-term potential, Wacy’s forecast serves as a reminder to investors that long-term risks should not be ignored.
As Solana’s price hovers around $136.42, traders are watching key levels closely. The $124 support and resistance points at $138 and $148 will play a vital role in determining whether Solana can maintain its upward trajectory or face further declines.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
