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Solana (SOL) at a Pivotal Moment: Buy the Dip or Brace for Another Crash?

Solana’s native token has been in steep decline over the past month, down approximately 25% and currently trading around $81 (according to CoinGecko).

Some analysts remain unfazed by the plunge, describing the ongoing levels as a great buying opportunity, while others think the worst may still be to come.

‘Free Money?’

ZAYRO ₿ recently claimed that SOL is nearing the end of its “manipulation” phase and is about to enter the distribution zone, where a substantial rally is expected. The analyst believes “everybody will be crying about not buying” at current levels, adding that Solana at these prices is “practically free money.”

“I’m accumulating spot aggressively. SOL will have a massive parabolic run. This is the supercycle that will make people regret ignoring sub-$100 Solana,” they added.

X users Ted and Curb also presented bullish predictions. The former argued that SOL’s downside liquidity has been swept, outlining two major liquidity zones around $90 and $100.

“Just like ETH, Solana also looks good for a relief bounce here,” he said.

The latter was even more optimistic, calling the bottom at approximately $80 and envisioning a price explosion toward a new all-time high above $1,000.

How About a Further Collapse?

According to Sweep and Mookie, the situation remains highly uncertain, leaving the crash scenario on the table as well. The former maintained that holding above $83 could pave the way for a major rally, while failing to do so might trigger a severe pullback. Mookie noted SOL’s decline over the past weeks, saying the price is nearing “a big test” at $78.

“If $78 holds, we could finally see a good bounce. But if it breaks, $63-$66 could be next,” they assumed.

The lack of institutional appetite currently favors the bearish scenario. Spot SOL ETFs have posted five consecutive red weeks, signaling that hedge funds, pension funds, and other conservative investors continue to reduce their exposure to the asset.

In fact, these investment vehicles have been bleeding heavily since the end of September, with the last day inflows surpassed outflows being October 21.

Spot SOL ETFs
Spot SOL ETFs, Source: SoSoValue

Solana’s exchange netflow also supports the bearish theory. Over the past few months, inflows have dominated outflows, suggesting more investors continue to switch from self-custody methods to centralized platforms, increasing immediate selling pressure.

SOL Exchange Netflow
SOL Exchange Netflow, Source: CoinGlass

 

Postul Solana (SOL) at a Pivotal Moment: Buy the Dip or Brace for Another Crash? a apărut prima dată pe CryptoPotato.


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