Solana (SOL) was among the best-performing cryptocurrencies last year, rallying by almost 1000% at one point since January 2023. The asset hit a yearly high of $121.45 on Dec. 26, 2023. However, SOL’s price has undergone a significant correction since its 2023 highs. SOL is currently down by over 12% in the weekly charts and over 22% in the last 30 days. However, the asset is up 1.9% in the daily charts and over 278% in the previous year.
Also Read: Solana (SOL) Price Drops Below $100; When Will It Reclaim Lost Ground?
Solana (SOL) to fall to $70 before rallying further?
According to crypto analyst Bluntz, Solana’s (SOL) current movement resembles its late 2018 pattern. The analyst states, ‘Those who remember, remember. I can’t say exactly. Maybe there will be a final exit burst, or maybe a burst straight down to support. All I know is if it drops below $70, I will make a substantial purchase of SOL.‘
Also Read: Solana: Weekly $100 in SOL Since FTX Crash is Worth This Much
According to Bluntz’s estimates, SOL’s price could retract to $70 before reclaiming the $100 level. Falling to $70 would translate to a drop of about 20% from current levels.
Apart from Bluntz, another crypto analyst by the name of Pentoshi predicts SOL to drop to $70 levels before making any positive moves.
Also Read: Solana (SOL) May Rally 43% to $145 in February: Predicts Analyst.
Moreover, AltcoinSherpa also anticipates Solana (SOL) to drop to $70, stating, ‘$70 Solana seems like a fair price to get in.‘
The project has also seen a surge in orders for its mobile phone, Saga. According to reports, over 40,000 units have been ordered so far. The mobile phone may also aid the asset’s price to rally.
This news is republished from another source. You can check the original article here