Analyst Says Solana’s Fall Below $80 Is Not the End but the Beginning, Reveals a Vertical Rally Scenario
Analyst Says Solana’s Fall Below $80 Is Not the End but the Beginning, Reveals a Vertical Rally Scenario
Solana (SOL) has plunged to its lowest level in two years alongside a breakdown of key support, showing an extreme downtrend. However, analysts say that if it successfully establishes a base for a technical rebound, reclaiming its all-time high remains possible.
According to cryptocurrency-focused outlet NewsBTC on February 8 (local time), digital asset analyst Umair Crypto assessed that despite Solana entering a decisive bearish phase after recently falling below the $80 level, it still has the potential to reach new highs over the mid to long term. Umair noted that Solana dropped by roughly 27% in the past week alone, losing the $100 support level formed in January 2024. As a result, the price was quickly pushed down to the next major supply zone between $67 and $73, revealing the market’s fragility.
Currently, Solana has attempted a modest rebound of about 12% from near its recent low, demonstrating the presence of buy orders waiting in that range. However, Umair placed greater weight on the likelihood of continued downside pressure rather than a classic V-shaped rebound, as declining prices accompanied by increasing trading volume have been observed. The analyst 전망 that although the current support level is temporarily attracting buyers, the downtrend is likely to persist for some time unless a clear and rapid reversal signal emerges.
The key gateway for recovery is reclaiming the $100.93 level, which was previously a support line but has now turned into strong resistance. Umair emphasized that a sustainable trend reversal will only be possible if Solana builds a stable base within the current price range and restores a bullish structure on the daily chart. If it successfully breaks above and holds the $100.93 level, the next upside targets could be raised to $120.59 and $128.43, eventually extending to $150.36.
If the optimistic scenario materializes and Solana maintains momentum above $150.36, there is a strong possibility that the price could surge vertically to between $200 and $210. Achieving this target would require the solidity of the Solana ecosystem and selective buying by institutional investors. Recent inflows of approximately $2.82 million into Solana spot ETFs are cited as a positive factor, indicating that interest from certain investor groups has been sustained despite broader market pressure.
*Disclaimer: This article is provided for investment reference only, and no responsibility is taken for investment losses based on this content. The information should be interpreted solely for informational purposes.*
<저작권자 ⓒ 코인리더스 무단전재 및 재배포 금지>
|
  많이 본 기사
English 많이 본 기사
|
