Here’s Why the Price Could Plunge by Double Digits

Is SOL headed toward $78 or even lower?

The crypto market experienced another correction in recent days, with only a handful of leading digital assets managing to escape the broader sell-off.

Solana (SOL) was not among the few exceptions, with its price tumbling by double digits over the past week. Moreover, some analysts think it could fall further in the short term.

What’s Next?

Earlier this month, the renowned analyst Ali Martinez observed SOL’s performance and estimated that its price has been moving within a well-defined channel since February. He identified $98 as the upper boundary of that structure, while $78 was described as the lower one. Later on, he predicted a possible pump if SOL makes a successful breakout above the ceiling and set $88 as “the pivot point.”

However, the asset’s valuation could not surpass the desired mark and currently trades at around $84.50, representing a substantial 12% weekly decline. In one of his recent X posts, Martinez noted that SOL failed to reach its bullish target, suggesting it could now head south toward the channel bottom near $78.

Another popular market observer who made a pessimistic forecast is Ted. He claimed that SOL’s RSI uptrend has been lost, meaning that the price needs to hold above the $82-$84 level.

“A daily close below won’t be good for Solana,” he added.

Adding to the bearish momentum, recent filings revealed that Goldman Sachs fully exited its SOL ETF exposure during Q1 2026. Such a move from a financial giant often signals caution and can weigh on market confidence.

On the other hand, inflows into spot SOL ETFs have continued to surpass outflows in recent days, suggesting growing institutional interest. Notably, the last red day was April 30.

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‘Zoom Out’

Of course, some analysts remain unfazed by the latest pullback and expect SOL’s price to head north in the near future. X user Trader Koala said people should “zoom out,” setting $135 as “the eventual destination.”

SatoshiOwl is also among the optimists. They claimed that many expect “more panic on alts, more fear everywhere.” However, the analyst believes this could be the perfect moment for the market to pivot, with “a monster reversal candle out of nowhere.”

“I’m long on SOL here,” they concluded.