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<p>In a post on TradingView, popular crypto analyst AlanSantana provided a detailed <a href="https://captainaltcoin.com/analyst-warns-of-solana-sol-price-crash-heres-his-outlook/" target="_blank" rel="noopener noreferrer nofollow">analysis of Solana (SOL), </a>highlighting a concerning bearish trend that may lead to a significant price crash. His insights delve into the current market conditions and potential future movements for this cryptocurrency.</p>
<p><a href="https://www.tradingview.com/chart/SOLUSD/iZlScUS0-Solana-In-The-Green-Zone-Looking-Down/" target="_blank" rel="noopener noreferrer nofollow">AlanSantana notes</a> that Solana is currently situated in the “green zone,” yet indications suggest a downward trajectory. He compares the present weekly timeframe to the conditions observed in late 2021 and early 2022, when Solana experienced substantial growth followed by inevitable corrections. The analyst emphasizes that after such significant price increases, corrections are a natural occurrence.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/why-is-eigenlayer-eigen-crypto-price-pumping/" target="_blank" rel="noopener noreferrer nofollow">Why Is EigenLayer (EIGEN) Crypto Price Pumping?</a></em></strong></p>
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<h2 class="wp-block-heading" id="declining-trading-volume">Declining Trading Volume</h2>
<p>One of the key points raised by AlanSantana is the declining <a href="https://www.bitcoin.com/get-started/what-is-trading-volume/" target="_blank" rel="noopener noreferrer nofollow">trading volume for Solana</a>. He observes that since reaching its highest buying point in November 2023, trading volume has consistently decreased each week and month.</p>
<p>This drop in volume, especially after a major high, is regarded as a<em> “strong bearish signal.”</em> AlanSantana highlights that despite Solana’s recent performance, interest in the cryptocurrency continues to diminish, further signaling potential challenges ahead.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/this-is-the-moment-for-bitcoin-price-to-bounce-says-veteran-btc-investor/" target="_blank" rel="noopener noreferrer nofollow">This Is the Moment for Bitcoin Price to ‘Bounce,’ Says Veteran BTC Investor</a></em></strong></p>
<h2 class="wp-block-heading" id="patterns-of-lower-highs">Patterns of Lower Highs</h2>
<p>The analyst further explains that while Solana remains in a relatively stable position, the prices have not been rising. Instead, they have formed lower highs for the past seven months.</p>
<p>AlanSantana describes this phenomenon as an<em> “illusion of stability,”</em> fueled by the hope of continued growth. He suggests that after such massive growth, a correction is imminent, and the charts indicate a downward trend is expected.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="374" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-333-1024x374.png" alt="" class="wp-image-564082" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-333-1024x374.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-333-300x110.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-333-766x280.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-333-1536x561.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-333-2048x748.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-333-411x150.png 411w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-333-100x37.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-333-958x350.png 958w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-333-788x287.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-333.png 1757w" sizes="(max-width: 1024px) 100vw, 1024px">
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<h2 class="wp-block-heading" id="potential-price-levels-and-future-outlook">Potential Price Levels and Future Outlook</h2>
<p>AlanSantana projects that Solana could experience a significant drop, with various support levels identified below the current price. He mentions key levels at $100, $75, and $55, with the possibility of a flash drop below $50 if market conditions worsen.</p>
<p>Despite the potential for a rapid decline, AlanSantana reassures readers that a swift recovery often follows such dips. He warns that the market may experience a shakeout in 2024, with sudden movements leading to unexpected lows before eventual recovery and growth in 2025.</p>
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<p>The post <a href="https://captainaltcoin.com/strong-bearish-signal-points-to-incoming-solana-sol-price-crash-how-far-down-can-it-go/" rel="noopener noreferrer nofollow">Strong Bearish Signal Points to Incoming Solana (SOL) Price Crash – How Far Down Can It Go?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Strong Bearish Signal Points to Incoming Solana (SOL) Price Crash – How Far Down Can It Go?

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