Analyst Reveals New Price Target for Solana After 77% Crash

Despite Solana's ($SOL) recent deep correction of up to 77% and a period of low market sentiment, prominent analyst CryptoPatel believes this may be the final shakeout phase before the start of a new cycle. According to his technical observations, the current price is close to a key support area, and if it can effectively stabilize, it is likely to open a recovery channel in the future.

Patel pointed out that in the short term, $SOL may form a temporary bottom in the $200 to $250 range. This area is not only an important psychological barrier in the early stage, but also coincides with a dense area of historical trading volume, which has strong support. If market sentiment improves and macro liquidity improves, the long-term target still points to higher levels after breaking through this range. It is worth noting that this judgment is based on two premises: First, the Solana network continues to maintain the advantages of high throughput and low fees, consolidating its position in high-performance public chains; second, the overall crypto market returns to a bull market cycle, driving the return of funds to high-quality altcoins. Despite short-term volatility, DeFi News, NFT, and developer activity within the Solana ecosystem remain active, providing strong support for its fundamentals. Compared with other mainstream public chains such as Cardano, Solana still has a leading edge in terms of performance and ecological expansion speed. Whether it can achieve a two-wheel drive of technology iteration and user growth in the next two years will become the core variable determining its price trend.