Solana’s price decreased by a considerable amount after reaching a historic maximum of almost $ 300 in January 2025. Also with the recent recovery of the market, the price is still based on 45% below its price of all time, highlighting the struggles that Altcoin has faced in recent times. Among this, a cryptographic analyst suggested that Solana’s price could crash further from here, providing for a 40% collapse could be again in the cards.
Because Solana could see a price collapse
Cryptocurrency analyst The Alchemist Trader has highlighted the development of a rare bullish harmonious model on the Solana prices graph. Now, while this formation of pattern is intrinsically bullish for any digital resource, the shortest term is provided with some obstacles for the Altcoin Armyunt.
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The main thing on which to focus here is that this bullish model initially triggers a swept of liquidity of the previous minimums. In this case, the recent price of Solana’s price is at a level of $ 95, which is a 40% reduction from its current price, in a trend greater than $ 150. The possibility of this swept low is made even more important by a couple of technical developments on the graphic designer.
The first technical point shown by the analyst is the control battle point (PoC). According to the analysis, Solana’s price is now testing this POC level with a low moment, shown by the slow climb in the last few days. In addition, there is also resistance to assembly in the high value area and at the level of Fibonacci 0.618, which is located just above $ 163. Therefore, there is the completion of the leg of the wave, putting it as $ 95.
An accident at this level becomes more likely if Solana’s price cannot break through the resistance with the belief. If the price is rejected and the leg is carried out, this correction should trigger the 40% crash at $ 95.
It is not all bearish news
As already mentioned above, the bearish reliable leg of the rare harmonious bullish model is only temporary and often gives way to an even stronger impulse move. As analyst Crypto explains, the $ 95 accident will only take place in the short term, but in reality it does not invalidate the overall bullish trend.
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Once the D-Leg has been finished and the accident has been completed, the Crypto analyst provides that Solana’s price will start gathering again. From the minimums of $ 05 expected, a move of over 100% should bring back to $ 200 and besides the event that the event is over.
The analyst explains that “until this scenario is confirmed or disabled, Solana remains linked to ranks among the main levels of time.” Therefore, “the traders should remain vigilant for the signs of refusal to the current resistance-o, on the contrary, a breakout supported by the volume above the value area at the top than denying the harmonic configuration”.
First floor image from Dall.e, tradingView.com graphic