Mixed Opinions Among Analysts Regarding Solana's Price Trajectory

Mixed Opinions Among Analysts Regarding Solana’s Price Trajectory

Ali Martinez Warns of Potential Correction

Renowned crypto analyst and trader, Ali Martinez, recently referenced a signal from the Tom DeMark (TD) Sequential Indicator, issuing a cautionary note about a possible correction for Solana (SOL), a formidable competitor to Ethereum (ETH). Martinez’s assessment contrasts with that of another anonymous analyst, Kaleo, who foresees further upward movement for the altcoin.

Could Drop to $127

Ali Martinez, known for his insights shared on the social media platform X, highlighted that the TD Sequential Indicator has signaled a sell on SOL’s daily chart. Historical data indicates that such signals often precede price drops for the altcoin. Martinez pointed out that since December 2023, each time the indicator signaled a sell, SOL’s price experienced a decline ranging between 17% to 28%. Currently, the indicator suggests a potential pullback for SOL, with price targets estimated at $152 and possibly even $127.

At the time of writing, SOL is trading at $186.09, marking a 12% increase in the last 24 hours. Despite this surge, SOL remains 27.61% below its all-time high of $260.06 recorded in November 2021.

If Martinez’s prediction materializes, it could translate to a significant drop of around 30% from current prices. However, despite his bearish outlook, Martinez advises investors against shorting assets during a bullish market phase, instead suggesting to capitalize on buying opportunities during price dips.

Anonymous Analyst Forecasts $200

Not all analysts share Martinez’s bearish sentiment towards Solana. An anonymous crypto analyst known as Kaleo recently stated that following SOL’s break of the rising trend line around the $150 range, it could potentially surge to $200.


The disparity in perspectives among analysts underscores the uncertainty surrounding SOL’s short-term price trajectory. It emphasizes the necessity for thorough technical analysis when navigating the highly volatile crypto market. While Martinez warns of a potential temporary correction based on historical indicators, the overall sentiment for SOL leans towards continued upward momentum, possibly breaching the $200 mark in the near future.

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