The post Solana Price Crash to $99—Analyst Predicts 50% Drop Ahead appeared first on Coinpedia Fintech News
The wider crypto market continued with bearish sentiment as the New York traders began their new week. Bitcoin (BTC) price has been forming a rising wedge in a falling market, signaling further capitulation during the day, potentially towards $70k.
Moreover, the heavy liquidation of long crypto traders, amounting to around $1.42 billion in the past 24 hours, has fueled the possibility of a further Selloff due to a long squeeze.
Also Read : Solana Price Prediction 2025, 2026 – 2030
Solana Bulls Give Way
As the bearish sentiment overtakes a possible bullish crypto outlook, amid the ongoing global economic crisis caused by Donald Trump’s tariff war, SOL price has signaled an onset of a macro bearish outlook. The large-cap altcoin, with a fully diluted valuation of about $51.4 billion, dropped over 15 percent to trade at about $99.66 on Monday, April 7, during the early New York session.
Worth noting that SOL traded volume surged over 330 percent in the past 24 hours to hover at about $6.9 billion. Essentially, a spike in daily average trade volume during a bearish market signals a surge in panic sellers.
SOL Price Expectations for this Week
The SOL/USD pair has continued to experience heightened volatility, amid the broader crypto market bearish outlook. Similarly, the SOL/BTC pair has been bleeding after retesting a reversal pattern characterized by a several-retest of the local top coupled with a bearish divergence of the weekly Relative Strength Index (RSI).
According to crypto analyst Ali Martinez, SOL price faces a 50 percent capitulation in the coming days to retest the next major liquidity level above $50.