The Solana price, after its meteoric rise to nearly $300 in January 2025, has taken a bit of a nosedive, much like a spaceship with a sudden fuel leak. Despite the recent market recovery, it’s still hovering more than 45% below its all-time high, which is a bit like being stuck in a traffic jam on the way to a party you’re already late for. And if that wasn’t enough, a crypto analyst has thrown in a prediction that could make things even more interesting: a 40% crash might be on the horizon. 🌪️
Why Solana Could See A Price Crash
Crypto analyst The Alchemist Trader has spotted a rare bullish harmonic pattern on the Solana price chart. Now, while this pattern is generally a good omen for any digital asset, it’s a bit like finding a treasure map that leads to a pit of quicksand. The short term, it seems, has a few hurdles for Solana to jump over first.
The main hurdle is that this bullish pattern initially triggers a liquidity sweep of previous lows. In Solana’s case, this means the price could dip to the $95 level, a 40% decrease from its current price, which is currently floating around $150. This possibility is made even more likely by a couple of technical developments on the chart, which are about as exciting as watching paint dry, but with more numbers.
The first technical point the analyst highlights is the Point of Control (POC) Battle. The Solana price is currently testing this POC level with the enthusiasm of a sloth, as evidenced by its slow climb over the last few days. There’s also mounting resistance at the Value Area High and the 0.618 Fibonacci level, which is just above $163. To top it off, the completion of the C-leg of the wave could push it as low as $95.
A crash to this level becomes more likely if the Solana price fails to break through the resistance with any real conviction. If the price is rejected and the C-leg does play out, then this correction is expected to trigger the 40% crash to the $95 level. It’s like Solana is playing a game of Jenga, and the next block could be the one that brings the whole tower down.
It’s Not All Bearish News
Despite the looming crash, the bearish leg of the rare bullish harmonic pattern is only temporary and often gives way to an even stronger impulse move. The crypto analyst explains that the crash to $95 will only happen in the immediate short term, but it doesn’t invalidate the overall bullish trend. It’s like a rollercoaster that dips before the big climb.
Once the D-leg is over and the crash is completed, the analyst predicts that the Solana price will start to rally again. From the predicted $95 lows, an over 100% move is expected to take it back to $200 and beyond before the rally is over. It’s like Solana is taking a deep breath before a sprint to the finish line.
The analyst concludes, “Until this scenario is confirmed or invalidated, Solana remains range-bound between major high time frame levels.” Therefore, “Traders should stay alert for signs of rejection at current resistance — or, conversely, a volume-backed breakout above the value area high that would negate the harmonic setup.” It’s a bit like waiting for the other shoe to drop, but with more charts and fewer shoes.
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2025-07-12 09:06