Solana Price Crash To $90?

Why A 26% Decline Could Rock This Crypto

The Solana price is seemingly on the verge of another major crash, as an analyst forecasts a correction to $90. Given the cryptocurrency's recent slow momentum due to the ongoing market letdown, an additional 26% decline to new lows could significantly impact the future outlook of Solana.

Analyst Forecast Massive SOL Price Crash

CoinMarketCap's data shows that the Solana price has given up most of its yearly gains following its massive 50% price crash earlier last month. Despite this bearish performance, TradingView crypto analyst MadWhale highlights that the pain isn't over yet, projecting an even deeper price decline for the popular altcoin.

Related Reading: Solana Price On The Verge Of 2022-Like Crash To Send It Back To $22?

The analyst believes that a 26% drop to $90 may be on the horizon if Solana fails to find proper support. Sharing a detailed price that supports his bearish prediction, MadWhale suggested that the Solana price is currently in a Descending Channel, indicating a sustained downtrend.

The chart shows that the altcoin's price movement is making lower highs and lower lows, confirming its already bearish structure. Moreover, Solana is presently struggling to break above the key resistance area indicated by a straight red line above the $130 threshold.$SOL #BotOrNot #MasterTheMarket