Crypto analyst Crypto Patel, who previously warned Solana (SOL) traders to sell near the cycle top at $250, has issued a new outlook following the market's validation of his call. He notes that SOL's price reversed from a high around $295 and collapsed to near $67, marking a massive 77% drawdown from its peak. This decline has now created conditions for a new long-term opportunity, but only if a key support level gives way.
Patel frames Solana's price action as a repeatable cycle of euphoric expansion and sharp correction before the next major rally. He points out that Solana is currently testing the $85 level, which corresponds to the 0.382 Fibonacci retracement. While this zone has acted as temporary support, it remains structurally weak given the broader trend of lower highs since the peak.
The analyst warns that if Solana fails to hold $85, its price could slide into the $50-$30 range, extending its decline over the past two years. He labels this area as a strong Fair Value Gap (FVG) accumulation zone based on historical demand and volume behavior. His chart projection places Solana in a corrective phase, with an expected decline of 89.44% by mid-2026 from its 2024 peak.
Despite this bearish short-term outlook, Patel maintains long-range bullish projections. He expects that once the corrective phase is complete, Solana could target the $500–$1,000 range by 2027, representing a 3,103% surge. Looking further ahead to late 2029, he projects SOL could rally toward $10,000, with $9,270 marked as the next long-term target.
Meanwhile, analyst group More Crypto Online highlights $79.50 as the next "micro support" level to watch. On Binance's 30-minute SOL/USD chart, Solana hovered near $81.64 after sliding back into a support band. The group notes that if SOL loses the $79.50 area, the next downside levels are $78.04, $75.50, and a deeper band near $72.03.
Separately, analyst Bitcoinsensus identifies a multi-year cup and handle continuation setup on Solana's monthly chart. The structure shows a wide rounded base across 2022-2023 (the cup) followed by a pullback phase (the handle) forming inside a falling channel. $80 is highlighted as the key support area that must hold for the pattern to remain intact. The analyst points to the $200 to $250 zone as the breakout range that would confirm the continuation move, with the prior range acting as a launch point for larger gains.
