Solana (SOL) is at a critical juncture as it tests the $85 support level, with analyst Crypto Patel warning of a potential drop to the $50–$30 range if this support fails. Patel, who previously advised selling SOL between $200 and $250, highlights the importance of the current support level, which aligns with the 0.382 Fibonacci retracement. Despite the short-term bearish outlook, Patel maintains a long-term target of $500–$1,000 for Solana.
In addition to his long-term target, Patel points to an ultra-bullish prediction that suggests Solana could reach $9,200 by 2029, representing a 27,560% increase. This forecast is based on historical cycle fractals indicating potential massive growth. While Patel remains cautious about Solana's near-term prospects, he emphasizes the potential for significant long-term gains, advising investors to be mindful of both short-term risks and long-term opportunities.
Solana Faces Potential Drop to $50–$30 Amid $85 Support Test
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