- Crypto Patel sees 90–93 as initial support. His deeper 73–78 target implies roughly 17%–22% downside from $93.92.
- More Crypto Online sees a move above $99 opening a path to 103–104, where buyers would face another test.
- Solana led weekly tokenized equity spot trading on decentralized exchanges for a second straight week, with $977 million in volume.
Solana price slipped 0.88% to $93.92 over 24 hours, leaving SOL less than a dollar above its recent $93.21 low. Crypto Patel sees room for a rebound before a deeper decline. In his Elliott Wave analysis, even a recovery to $112 could fit a correction that eventually takes the token to 73–78.
Solana Price Nears Support as Tokenized Stock Trading Grows
SOL traded just below its seven-day simple moving average of $94.18. Its relative strength index stood at 41.01, below the neutral reading of 50 but above the conventional oversold threshold of 30. The first test is whether buyers step in again near $93.21, just above Patel’s 90–93 support zone.
The softer Solana price coincided with brisk trading in tokenized stocks. SolanaFloor reported $977 million in weekly spot volume for those assets on decentralized exchanges. That put Solana ahead of other blockchains for the second consecutive week.Â
For October, Solana reported $3.9 billion in tokenized stock volume. That figure measures how much traders exchanged in stock tokens. It does not measure how much SOL they bought or whether buyers can defend the recent low.
Why a Solana Price Bounce to $112 Could Still Fit a Correction
More Crypto Online puts the first recovery hurdle at $99. Clearing it would strengthen the case for 103–104, though sellers could still turn SOL back at that second level.
Crypto Patel takes a longer view. He interprets the rejection near $125 as the possible end of a five-wave advance. In his three-part correction, an initial decline toward support gives way to a rebound, which he expects could stall at 107–112.
If sellers regain control there, Patel sees the final decline reaching 73–78. His later 160–200 Solana price target depends on buyers establishing a base in that lower zone. A higher-timeframe close above $114 would invalidate his bearish setup.
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.
