After a prolonged downturn that saw Solana (SOL) tumble from levels above $200 to a low of $67.44 on February 6, 2026, the token now trades around $83. Crypto Patel, the analyst who accurately forecasted that decline, suggests SOL may be preparing for another significant move.
Patel had previously warned of a drop from the $190–$220 range, predicting that SOL could fall below $100 with an accumulation zone between $60 and $35. Having already touched part of that range, Solana’s current price area is now viewed as a potential accumulation opportunity. Patel notes that around $84 represents a 71% discount from the all-time high of $295.60, while the stronger accumulation zone lies between $50 and $32—the 0.5 to 0.618 Fibonacci retracement levels.
On the daily chart, SOL has been trading within an ascending channel since its February low. The recent bounce from the lower boundary of this channel indicates active buyer defense. A sustained hold above the channel base keeps a move toward the psychological $100 level in sight. Conversely, a breakdown could reopen the door toward the deeper accumulation zone described by Patel.
While Patel still maintains a long-term target of $1,000, his current message emphasizes patience and risk management rather than immediate bullish momentum. The next few weeks may determine whether Solana’s recovery can gain traction or if a renewed decline is in store.
