Crypto analyst famous for making dramatic predictions Bitcoin (BTC) crashes to $20,000 In 2021, new warnings regarding Solana (SOL) caught the attention of investors and traders. Through technical analysis, he has identified key resistance zones that he believes need to be regained soon. If he doesn't recover, he warns: SOL price may collapse It is heading towards much lower levels, further deepening the already sustained downward trend in cryptocurrencies.
Bitcoin crash caller issues new Solana alert
After predicting the collapse of Bitcoin four years ago, crypto market expert Don Alto highlights new risks for Solana. In one of DonAlt's latest analyses, shared Detailed consideration Solana's fee structureincluding a chart highlighting the major red resistance zone between $190 and $215.
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According to him, this is a range level Solana must recover To avoid deeper modifications. The analyst explained that his stance on Solana has been bearish for some time and the recent rejection from this key area of resistance only strengthens that outlook.
The SOL price chart shows several failed attempts to close above the red box, suggesting that sellers may still be in control of the trend. recent accumulation. The upper range line around $250 has acted as a non-negotiable ceiling in recent months, and Don Alto suggested that as long as Solana trades well below it, the market should move lower. considered to be structurally weak. Currently, the altcoin price has fallen to moderate levels and the weekly time frame is starting to show early signs of a bearish breakdown.
In a previous report, DonAlt said: presented The same chart structure highlights that Solana's price action will remain “terrible” unless buyers step in to salvage the weekly closing price within two days. Failing that, he expects the cryptocurrency’s price to fall towards range support at $126. As of this writing, Solana is trading at around $141, and a drop to $126 would represent a drop in value of more than 10%.
especially, bearish pressure As you can see in the candlesticks on the chart, each time Solana approaches the red resistance zone it continues to weaken. This trend reflects a decline in strength and a stable situation. decline in momentumfurther compounded by the broader cryptocurrency downtrend and rising volatility.
SOL HTF chart suggests serious bankruptcy risk
Don Alto also displayed He believes the High Time Frame (HTF) chart is one of the most bearish in recent months. The chart shows a clear rejection from the upper bound near $208, highlighting the weakness emerging on the higher time frame.
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While many traders assume that a bearish setup will fail if it becomes too obvious, Don Alto suggests that Solana's current situation is the opposite. He points out that very few people are panicking or arguing. potential risksThis is even more unusual and shows that this silence may be hiding real vulnerabilities.
Featured image created by Dall.E, chart on Tradingview.com
