The Solana price has fallen by a considerable amount after hitting an all-time high of almost $300 back in January 2025. Even with the recent market recovery, the price is still sitting over 45% below its all-time high price, highlighting the struggles that the altcoin has faced in recent times. Amid this, a crypto analyst has suggested that the Solana price could crash even further from here, predicting a 40% crash could be in the cards once more. Why Solana Could See A Price Crash Crypto analyst The Alchemist Trader has highlighted the development of a rare bullish harmonic pattern on the Solana price chart. Now, while this pattern formation is inherently bullish for any digital asset, the shorter term does come with some hurdles for the altcoin to surmount first. Related Reading: Bitcoin Open Interest Climbs Above December 2024 Levels, Here’s What Happened Last Time The main thing to focus on here is that this bullish pattern does initially trigger a liquidity sweep of previous lows. In this case, the recent Solana price low lies at the $95 level, which is a 40% decrease from its current price, trending above $150. The possibility of this low sweep is made even more prominent by a couple of technical developments on the chart. The first technical point the analyst shows is the Point of Control (POC) Battle. According to the analysis, the Solana price is now testing this POC level with low momentum, shown by the slow climb over the last few days. Additionally, there is also mounting resistance at the Value Area High and the 0.618 Fibonacci level, which lies just above $163. Then, there is the completion of the C-leg of the wave, putting it as low as $95. A crash to this level becomes more likely if the Solana price fails to break through the resistance with conviction. If the price is rejected and the C-leg does play out, then this correction is expected to trigger the 40% crash to the $95 level. It’s Not All Bearish News As already mentioned above, the bearish leg of the rare bullish harmonic pattern is only temporary and often gives way to an even stronger impulse move. As the crypto analyst explains, the crash to $95 will only happen in the immediate short term, but it does not actually invalidate the overall bullish trend. Related Reading: Market Expert Says It’s Now ‘Illegal’ To Short Bitcoin, Here’s Why Once the D-leg is over and the crash is completed, the crypto analyst predicts that the Solana price will start to rally again. From the predicted $05 lows, an over 100% move is expected to take it back to $200 and beyond before the rally is over. The analyst explains that “Until this scenario is confirmed or invalidated, Solana remains range-bound between major high time frame levels.” Therefore, “Traders should stay alert for signs of rejection at current resistance — or, conversely, a volume-backed breakout above the value area high that would negate the harmonic setup.” Featured image from Dall.E, chart from TradingView.com
