The cryptocurrency analyst who warned Solana (SOL) traders to sell near the top of the cycle at $250 is back with a fresh perspective after the market confirmed his earlier call. Crypto Patel says the decline in SOL price from its $200-$250 exit zone has now created conditions for a fresh long-term opportunity, but only if another key level subsides. His latest chart frames Solana price action as a repeating cycle of euphoric expansion and edged correction before the next major surge.
Crypto Patel Shares New Solana Price Forecast
In the last post on X, Crypto Patel he reminded community members that when Solana was trading near its high in the $250-$200 range, most investors were anticipating a spike to $1,000. Instead, the price reversed high end around $295 and dropped to almost $67, a massive 77% drop from its peak.
Related Reading: Here’s Why Bitcoin, Ethereum, and Solana Prices Still Falling Hard
Now the analyst offers a fresh perspective, warning of a potentially similar decline in Solana’s price this cycle. He notices it Solana is currently testing the $85 levelwhich corresponds to the Fibonacci retracement on the chart with a value of 0.382. The zone acted as fleeting support; however, it remains structurally delicate given the broader trend of lower highs since the peak.
The analyst suggests that if Solana fails to break above $85, its price could drop to the $50-$30 range, thus extending decline over the last two years. He described this area as forceful Fair Value Gap (FVG) accumulation zone based on historical demand and volume behavior.
The attached chart also shows earlier expansion phases in which Solana grew by thousands of percent after long periods of consolidation. IN Taurus cycle 2021the price rose by over 24,234.55% and then fell by 97.01% in the following year. Crypto Patel’s current forecast places Solana in a similar phase of expansion and correction.
The cryptocurrency has already experienced an expansion phase in 2024, with its price rising by over 3,699% to peak at around $295. Now the analyst predicts upcoming correction, where prices are expected to drop by as much as 89.44% by mid-2026.
Long-term goals remain unchanged despite the revision
Despite the bearish near-term outlook, Crypto Patel has not abandoned his long-term bullish outlook for SOL. He maintains that after the recovery phase is completed Solana could still target $500– $1,000 range. His chart predicts a edged augment towards the $1,000 level by 2027, a massive augment of 3,103%.
Related reading: XRP and Solana secure inflows as institutions withdraw $1 billion from Bitcoin and Ethereum
Moving forward, the analyst also shared his bullish price forecast for Solana through the end of 2029. He expects that once the price reaches $1,000, SOL could rise strongly and steadily towards $10,000. He set his next long-term goal at $9,270, reflecting an augment of approximately 27,660%.
Featured image from Freepik, chart from Tradingview.com
