Why Solana Could Be Heading for a Crash to $50

A rise to $160 or a double-digit collapse: what comes next for SOL? Solana’s native token has been underperforming during the persistent bear market, but some analysts view the current levels as great buying opportunities. Others believe the asset is at a critical turning point, suggesting that a further 30% crash is not out of the question. More Bleeding? SOL has been in a major decline lately, with X user WIZZ noting that it has logged nine consecutive red months and is at risk of closing a tenth – something unseen in its history. Ivan on Tech said people should respect the trend and take it as a warning that the price could slip further in the near future. As of this writing, it trades at around $74 or very close to the $73.75 mark, which the popular analyst Ali Martinez labeled a “make-or-break” moment. He outlined that more than 50 million SOL were bought around that level, making it the most critical support on the map. Martinez thinks that a sustained close under the key zone might trigger additional selling pressure, with $60 becoming the next major downside target. “Below that, there is little meaningful support until $50,” he added. Shortly after, the analyst claimed that...