SOL is now down by more than 20% in the last 30 days and now struggles around $125. Will it rally to $200 or crash to $120 in April?
Solana is down 2% in the day, compounding its monthly losses to more than 20%. During this period, the top altcoin prices have been oscillating between $113 and $152, the worst performance in more than 12 months.
Such a massive loss also means that Solana has shed all the gains made in the market rally of the last half of 2024, which propelled it to the current ATH of $294.
Will Solana Reach $200 or Drop Below $120 in April?
It is highly unlikely that Solana will rebound and rally towards $200 in April because the same factors that yanked it from the ATH less than two months ago are still at play.
These range from the lingering impact of the Libra scandal and the controversy surrounding Pump.fun, which shook investor confidence.
These have soiled Solana’s reputation and contributed to the cautious optimism with which retail and institutional investors now view the Ethereum killer.
Additionally, the larger crypto market continues to struggle under the macroeconomic pressures that have forced it to turn bearish. For example, President Trump is expected to announce reciprocal tariffs tomorrow.
This has sparked fears that it could trigger another risk-off sentient by investors, which definitely dampens the bullish momentum needed to thrust Solana toward $200.
Adding to this downside pressure is the looming distribution of $800 million recovered from the FTX in May. This is significant because 61% of these holdings are held on Solana.
Throughout April, therefore, it is likely that investors will take a cautious “wait-and-see” approach, fearing the selling pressure attributed to these coins will cause further price suppression for SOL tokens.
All these factors back the argument that the odds of SOL dropping below $120 are higher than a bullish case towards $200.
Should You Buy SOL Today?
Yes, because even though the top altcoin is grossly undervalued, Solana is a hugely resilient altcoin. This, among other reasons, explains our bullish case for Solana and our confidence in its ability to peak around $515.
The promise of future rebound and ascension to a new all-time high, therefore, makes SOL worth buying today. Practice dollar-cost-averaging to take advantage of the current and upcoming price dips.
Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk.
Get Instant Access to Our Latest High-Potential Crypto Alerts
This is how we are guiding our premium members (log in required):
- A Promising And Welcome Evolution On Crypto’s Leading Indicator Chart (March 24th)
- The Dates & Data Points To Watch In The Next 3 Weeks (March 17th)
- The Time Window as of March 14 Should Bring Relief (March 11th)
- Buy The Dip Is Here (March 1st)
- BTC Very Close To Its 200 dma – Chart Looks Constructive (Feb 26th)
- How To Know Whether BTC Will Set A Bottom This Week? (Feb 25th)
- Crypto Markets Showing Strong Signs Of Selling Exhaustion. Buy The Dip?! (Feb 23d)
- This Token Is Set To Emerge As An Outperformer as USD Breaks Down. (Feb 16th)
- When Will This Market Finally Start Moving? (Feb 9th)
- Will February 5th Come To The Rescue? (Feb 4th)
- Top 5 Tokens for 2025: Essential and In-Depth Chart Insights (Jan 31st)
- Do You See The LINK? (Jan 24th)
- Bitcoin Up, Altcoins Down? What’s Going On? (Jan 19th)
