Solana Price Risks Major Crash

Solana price is at risk of a significant decline after forming a death cross pattern on the daily chart. The SOL coin was trading at $140 on Wednesday, down over 50% from its peak this year.

Solana Price Prediction: Death Cross Formation

Recently, Solana has been on a bearish trend, dropping from $294.68 in January to $140. This decline follows concerns about its ecosystem and increasing instances of rug pull scams.

The formation of a death cross occurred when the 50-day and 200-day Exponential Moving Averages (EMA) crossed. Historically, this pattern has indicated a potential bearish breakdown, as exemplified in February 2022 when Solana’s price plummeted over 90%. Analysts predict a drop to $109, the lowest level recorded in August 2024, with further support at $79.

Top Solana Crypto Coins to Buy

Amid the crash of many Solana crypto coins—with meme coins’ market cap declining from $25 billion to $8 billion—investors might consider contrarian options for future gains.

Jito (JTO)

Jito is a liquid staking platform boasting billions in assets and generated over $846 million this year. After forming a quadruple bottom around $2.0, it could rebound strongly by 70% to its neckline of $4.34.

Raydium (RAY)

Raydium, the largest DEX in Solana, has also seen a significant drop below its key support of $3.2890. While it predicts further downside due to a potential death cross, improved activity could see it recover.

Jupiter (JUP)

Jupiter has also seen a decline, now sitting at $0.6640, down 55% from its peak. It shows promise of a 125% rebound if support holds, especially with the network repurchasing over 50 million tokens.

Other notable Solana projects include Helium and HiveMapper, along with potential future vibrancy in meme coins like Bonk and Dogwifhat.

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