Solana (SOL) has managed to clear the psychologically significant $100 level. However, the coin is only slightly above $100, and while that is positive, it could face a deeper pullback in the coming days. Further analysis follows, but first some key points:
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Despite surging above $100, SOL failed to find support at its 50-day simple moving average (SMA) near $105.
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SOL has also struggled to achieve a sustained breakout over the past 30 days.
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More weakness may follow, with this altcoin likely to decline toward $75 before the next upward move.
Data source: TradingView
Solana – Why $75 Is More Likely
Every analysis has two sides. While our near-term outlook is bearish for SOL, this scenario would be invalidated if bulls can push SOL above $128. That, however, appears unlikely in the next few days.
Looking at SOL’s 30-day trend, the coin has repeatedly struggled to hold gains above its 50-day SMA around $105. We do not observe any major shift in market sentiment that would suggest a decisive breakout is imminent.
Therefore, even though SOL remains above the psychologically important $100 level, we expect further downside. The coin is likely to fall toward $75. That would represent approximately a 25% decline from current levels.
Is Solana Still Worth Buying?
Solana remains a major crypto project with strong fundamentals and a large ecosystem. Some investors feel it has yet to reach its full potential, and patience may be required before it returns to prior highs.
If you have not bought SOL yet, you might consider waiting for a pullback toward $75 before entering. From that level, you can choose to hold for the long term or take profits when prices break out again. In either case, many investors still find Solana an attractive long-term investment within the crypto space.