Solana: A Seasoned Analyst's Bold New Forecast After Previous Success
A prominent crypto analyst, known as Crypto Patel, accurately predicted Solana's (SOL) significant sell-off near its cycle peak of $250. Now, with his previous call validated by a steep market correction, Patel is back with a fresh, comprehensive outlook for the popular altcoin, outlining both near-term risks and ambitious long-term targets.
Navigating the Current Correction and Short-Term Risks
Crypto Patel recently reminded the community that while Solana traded between $200 and $250, many investors projected a run to $1,000. Instead, SOL peaked around $295 before collapsing to nearly $67, a staggering 77% drawdown. Currently, Solana is testing the $85 level, which corresponds to the 0.382 Fibonacci retracement. While this zone offers temporary support, Patel warns that the broader trend of lower highs indicates structural weakness. Should Solana fail to hold the $85 mark, its price could slide further into the $50-$30 range. This area is identified as a "Fair Value Gap (FVG) accumulation zone," drawing parallels from historical demand and volume patterns. The analyst's latest projections suggest that Solana has already seen its expansion phase for 2024, with a price jump of over 3,699% to approximately $295. Following this, he anticipates an "upcoming correction," forecasting an 89.44% decline by mid-2026. This cyclical behavior echoes Solana's 2021 bull run, which saw a 24,234.55% rally followed by a 97.01% decline.
Long-Term Ambitions: Targets Beyond $1,000
Despite the bearish short-term outlook, Crypto Patel maintains an unyielding long-term bullish stance on Solana. He projects that once the current corrective phase completes, SOL could target the $500-$1,000 range. His charts illustrate a sharp upward surge towards the $1,000 level by 2027, representing an impressive 3,103% increase from current levels. Looking further ahead to late 2029, Patel sets an even more audacious target, envisioning Solana reaching $9,270, which would equate to an approximate rally of 27,660%. This perspective emphasizes the potential for exponential growth after consolidation, aligning with Solana's historical performance.
