Historic level breach opens $250 upside or extended downside for SOL
Solana has slipped below a critical support level that previously anchored a 2022-2023 bull rally, triggering divergent price forecasts from market analysts tracking the token’s next move.
According to Crypto Tice, a market expert, “the Solana price now has only two possible paths after slipping below a key support level that drove its 2022-2023 bull rally.” If SOL reclaims the broken level, buyers may resume the historic pattern that led to explosive gains two years ago. If support fails to hold, the downside remains open.
Solana trades near $75, down 10% over the past week and 5% in the last 24 hours. Crypto Tice projects upside to $250 if the support level is reclaimed, representing a potential 233% gain from current prices. “the next candle will be critical in deciding SOL’s short-term direction,” Tice said.
The broader technical picture shows extended weakness. Solana has printed eight consecutive red monthly candles, the longest bearish streak in its history. “Solana has just printed eight consecutive red monthly candles, indicating a prolonged slump,” said Crypto Patel, a market analyst. “it’s the first time Solana has faced such a long bearish streak since its launch.”
This bearish phase differs from the 2021 cycle, when Solana recorded approximately nine red monthly candles that were not consecutive. After that earlier downturn ended and price found a bottom, SOL surged to near its all-time high of $295.
Crypto Patel projects a wider upside target of $500 to $1,000 after the ninth red candle and a price bottom, though the analyst did not specify a timeframe for that move.
The exact price level of the broken support remains undisclosed. Analysts are watching whether SOL can recover above that threshold, which would signal a return to the 2022-2023 bull path, or whether extended consolidation lies ahead.
