Will Solana drop below $100 ?

Siliconthread

Siliconthread

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According to Cointelegraph, Solana price completed a “death cross” on the one-day chart on March 12. The price has currently dropped below its long-term support level at $125.

4ADF67A8-67CB-481C-B170-F6E322CF7406.png

The last time SOL went below $100 was last February. Following this TA chart, we could see more sell-off which will accelerate the price drop. What do think ?
 
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The $100 level is more of a psychological barrier for Solana than a technical one.

I think Solana is in a tricky spot right now. That death cross signal isn't great, it usually means prices could keep dropping. Since Solana has already fallen below $125, there's a chance it could dip even further, especially if it breaks below $110. If that happens, we might even see it drop under $100, with $80 being the next safety net.

But I’m not totally convinced it’ll crash that low just yet. There’s a good chance we see the price bounce back toward $127 instead.
 
We might see more downside, but crypto moves fast let’s see how it plays out!
 
DevMask said:
The $100 level is more of a psychological barrier for Solana than a technical one.

I think Solana is in a tricky spot right now. That death cross signal isn't great, it usually means prices could keep dropping. Since Solana has already fallen below $125, there's a chance it could dip even further, especially if it breaks below $110. If that happens, we might even see it drop under $100, with $80 being the next safety net.

But I’m not totally convinced it’ll crash that low just yet. There’s a good chance we see the price bounce back toward $127 instead.
Click to expand...
There’s high chance it might drop to $110 but if it can hold support above $112 and regain some momentum, a bounce back to $127 would be possible. However, if market sentiment remains shaky and the $110 level fails, then we should see a correction at $80 level.
 
Technical analysis of Solana will give an idea of the current trend, but I think it's more important to understand the fundamental reasons for the rise/fall of the SOL price.

Probably no one will argue that the rise of Solana is directly related to meme coins. If they "die off", investors will bury SOL.

By the way, Solana futures have become freely available on the world's largest stock exchange, the Chicago CME. And judging by the trading results, they are of no interest to anyone. This is a verdict. Don't believe it, look at Ethereum. It fell and did not rise after the failed launch of the ETH ETF.
 
If it happens, history shows Solana doesn’t stay down there long.
 
Experts warn that it will fall further if investors continue to sell off. On the contrary, if investors hold on to their stocks, it will recover and increase dramatically. But all of this is just a forecast, so we should not panic too much.
 
Siliconthread said:
According to Cointelegraph, Solana price completed a “death cross” on the one-day chart on March 12. The price has currently dropped below its long-term support level at $125.

View attachment 430911

The last time SOL went below $100 was last February. Following this TA chart, we could see more sell-off which will accelerate the price drop. What do think ?
Click to expand...
There is correction here but when price drops the number of buyers also increases.
 
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