- IvanOnTech identifies technical “magnets” on the weekly chart that suggest a deep retracement to $30, a level not seen since the 2022 bear market.
- The analysis points to the $130.22 “flip level” as the moment bulls lost control, transforming previous support into a heavy overhead resistance.
- Despite the upcoming Firedancer upgrade, Solana faces significant pressure from network congestion and rising competition from Sui and Aptos.
The prominent crypto influencer IvanOnTech stirred the community with a stark forecast for Solana (SOL), claiming the token is on track to plummet to $30. Accompanied by a detailed weekly chart, his analysis highlights “magnets” – technical indicators pulling the price lower – as evidence of an impending drop. As of February 13, 2026, SOL trades around $79, down slightly from recent highs, reflecting ongoing market volatility.
Technical Milestones: From the $260 Peak to the $130 Flip
IvanOnTech’s chart showcases SOL’s price action from 2022 to 2026, marked with bearish trends, resistance levels, and support flips. Key annotations include a “bearish” label near peaks around $260 in 2024, followed by a downward trajectory. The “flip level” at $130.22 suggests a critical point where bulls lost control, leading to the current consolidation. Lower supports are drawn toward $30, aligning with historical lows during the 2022 bear market. He emphasizes the strength of these “magnets,” responding to skeptics by underscoring their predictive power.
This prediction comes amid broader crypto market pressures. Solana, known for its high-speed blockchain and thriving ecosystem of DeFi, NFTs, and memecoins, has faced challenges. Network congestion issues in late 2025, coupled with competition from Ethereum layer-2 solutions and emerging chains like Sui and Aptos, have dampened enthusiasm. Regulatory scrutiny on decentralized networks and a global economic slowdown have further weighed on altcoins. SOL’s market cap stands at approximately $44.6 billion, with 24-hour trading volume exceeding $3.6 billion, indicating liquidity but also vulnerability to sell-offs.
Community Divided: Firedancer Hope vs. Memecoin Exhaustion
Community reactions are mixed. Some users echo IvanOnTech’s bearish sentiment, citing overvaluation and fading hype around Solana’s memecoin frenzy. Others dismiss it as FUD, pointing to upcoming upgrades like Firedancer, which aims to boost transaction speeds to 1 million TPS. One reply humorously suggested adding “one more magnet” to ensure the drop, while another criticized past bullish calls that failed to materialize.
If SOL does reach $30, it would represent a 62% decline from current levels, potentially shaking investor confidence but also creating buying opportunities for long-term holders. Technical analysts note the weekly RSI dipping into oversold territory, which could signal a rebound or further capitulation. On-chain metrics show active addresses declining 15% in the past month, hinting at reduced user engagement. Investors should monitor key levels: support at $70 could hold short-term, but a break below might accelerate the slide. As always, crypto markets are unpredictable – DYOR before acting on any prediction.
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.
