Solana Defies Gravity—But Can It Survive the Crypto Storm?

SOL’s recent rally looks unstoppable—until you see the macro headwinds lining up against it.

Market makers whisper about ’irrational exuberance’ as retail traders pile in. Meanwhile, Bitcoin’s sideways slump drags down altcoin liquidity like an anchor.

The brutal truth? Every 100% pump creates twice as many bagholders when the music stops. Just ask your neighbor who bought the last ATH.

$149 (SOL) began the week by climbing to the $150 mark, but a subsequent slowdown has created an uncertain landscape for market participants. While forecasts remain optimistic, technical indicators and market data suggest obstacles ahead for a sudden price rise.

ContentsTarget of $4,500 Based on Technical FormationTrading Data and Social Interest Wane

Target of $4,500 Based on Technical Formation

Renowned market analyst Ali Charts has made a bold prediction for Solana. According to him, the “cup and handle” formation seen in the weekly chart indicates that the price could reach as high as $4,500. However, for this increase to be technically validated, the established resistance line must be broken upwards and a weekly close above this level must occur.

Ali Charts stated, “The structure in the weekly chart harbors strong momentum potential,” noting that this formation has historically been a precursor to many rallies. Despite this, it is emphasized that such predictions should be approached cautiously as they are based solely on technical data.

However, there is a notable discrepancy between optimistic analyst statements and market reality. The decline in themed token movements on the Solana network and a significant drop in trading volumes on decentralized exchanges over the past week weaken the chances of a short-term price rebound.

Trading Data and Social Interest Wane

According to on-chain data providers like Santiment, social media interest in Solana has visibly decreased compared to previous peak periods. This reduction in social volume indicates a cooling investor sentiment and suggests that upward pressure on price may also be diminishing.

Another notable data point in the futures market is the shift of funding rates into negative territory. This indicates that many traders in futures markets believe Solana prices are more likely to fall in the short term rather than rise. Thus, the market appears to be preparing for a correction rather than an upward movement.

Following the rise experienced throughout the month, Solana’s price has begun to consolidate in the range of $145-152. Although the Relative Strength Index (RSI) surpassing 50 is seen as a positive technical signal, experts caution that this level alone does not guarantee a strong upward trend.

The reluctance among buyers indicates that investors are anticipating a decline in price to lower levels. This behavior suggests that the market currently lacks sufficient liquidity and momentum for an upward breakout.

For investors, the situation is clear: there is a significant disconnect between long-term analyses and immediate data. This serves as a reminder to approach trading decisions with greater caution.

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