Veteran crypto analyst Peter Brandt has revealed a new bearish outlook for Solana, suggesting a major price crash to new lows near $80. Despite the pessimistic forecast, other analysts see a potential price recovery with Solana expected to rise to $208.
Solana Heads for Price Collapse to $80
At the time of writing, Solana price reached $150, up from an initial value of $148 and successfully surpassing resistance levels around $149. This represents an increase of 8.49%, highlighting strong investor interest in the coin.
Despite the recent bullish performance, Brandt issued a gloomy forecast for Solana, predicting a sharp decline of 46.67% from its current levels. This forecast is based on the possibility of Solana failing to break through key support levels.
Brandt noted that if Solana price drops below the $129 support level and âthat support breaks down,â it will complete a large rectangle pattern. This rectangle could lead to a significant price drop, with the coin potentially reaching $80.
Brandt's Forecast and New Resistance Levels
Brandt noted in his analysis that a new resistance level around $204 has emerged for Solana, indicating that the cryptocurrency could reach this level.
Solana Price Crash Could Spark a Rally to $208
In contrast, another analyst known as âTraderXOâ made a more conservative prediction that the price will decline before a major recovery. The analyst sees Solana potentially starting to trade in the $120 range again after falling from its current price of $150.
