The bearish cryptocurrency market has intensified the pressure on Solana, whose price recently retreated 38% to reach 67 dollars, according to analyst Bitcoinsensus. This fall, validating a head and shoulders pattern, places the next technical target near 50 dollars, which represents a structural threat to the current ecosystem today for investors.
After having lost more than 72% of its value since the highs of January 2025, the asset faces a corrective phase of a large technical magnitude, coinciding with projections from experts like Nextiscrypto. The technical analysis, supported by the measured movement of the bearish figure, suggests that the price could drop to 45 dollars if essential demand levels are not recovered.
Technical descent and the break of critical supports on the chart
The structure of the two-day chart shows that SOL broke the neckline located at 120 dollars, confirming a signal of deep weakness that worries investors. On the other hand, analysts like “Shitpoastin” warn that the absence of historical demand zones could push the price towards 30 dollars, especially under a scenario of extreme market panic.
Nonetheless, the MVRV (Market Value to Realized Value) price bands offer a breather by identifying a possible technical floor at 75 dollars, a level that has historically generated bounces. Although the outlook looks bleak, Solana usually reacts with a notable force when being near these extreme deviation zones, although a definitive break would accelerate the downward trend.
Considering the historical association of the network with systemic liquidation events, the memory of the FTX collapse in 2022 influences the perception of traders, who watch the volatility. This marked heritage of a constant structural instability forces investors to cautiously observe funding rates, being this a key indicator to measure the prevailing sentiment within the active market.
Additionally, the fact that the asset has touched a two-year low underscores the severity of the current contraction phase, which has erased significant gains from previous cycles. This situation, where the 120 dollar support transformed into resistance, evidences how changes in market architecture affect the confidence of large institutional holders during this volatile period.
What factors could prevent Solana from reaching the 42 dollar target?
To invalidate the total crash thesis, it is imperative that the asset maintains the 75 dollar support, consolidating again above the 95 dollar zone. If achieved, a “double bottom” pattern would form, a classic bullish reversal signal that could attract the interest of institutional buyers looking for prices with a really attractive and deep discount.
However, monitoring funding rates and open interest in derivatives will be crucial, since this data determines the strength of sellers in the short term. Likewise, the behavior of leading assets will directly influence SOL, whose resilience will be tested while the market tries to build a solid base and sustainable for all players involved.
Such dynamics are reflected in the trading volume, which has fluctuated erratically while the financial ecosystem seeks stable anchor points to stop the bleeding of capital. Therefore, the validation of patterns across multiple timeframes suggests that selling pressure has not ended, forcing large-cap cryptocurrencies to redefine their strategies in order to survive.
Ultimately, the immediate future of this asset depends on its ability to reject lower levels, thus avoiding a catastrophic descent towards the 30 dollar levels projected by the most pessimistic scenarios. While technical signals point downward, the formation of a reversal structure remains a latent possibility that traders monitor with extreme attention throughout the upcoming weeks.
