SOL
Solana Consolidates In A Wide Range – Big Move On The Horizon?
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Solana has faced intense selling pressure and price swings, with the asset losing over 57% of its value since January 13. Bulls have struggled to regain momentum, and market sentiment suggests that the crypto market is not in a healthy condition for a strong recovery. As uncertainty continues, investors remain cautious, watching for signals of a potential trend shift.
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However, despite the bearish outlook, some analysts believe that this correction could be nearing its end. Many are now looking for key technical confirmations that could indicate a reversal or breakout in the near future.
A top crypto analyst, Ali Martinez, shared a technical analysis on X, revealing that Solana remains in consolidation within a wide range pattern. This type of formation often suggests increasing volatility before a potential breakout to higher prices. If SOL follows the historical behavior of this pattern, it could be positioning for a significant move upward once market conditions stabilize.
With Solana hovering near crucial price levels, the coming days will be key in determining whether bulls can reclaim control or if further downside awaits. Traders are now watching for a decisive breakout or another leg down before making their next move.
Solana Struggles Around Crucial Demand
Solana is struggling to hold the $140 support level after failing to reclaim higher price levels, keeping sentiment bearish as price action continues in a downtrend. Analysts remain cautious, warning that SOL could see further declines unless bulls regain control and establish stronger momentum.
The past few weeks have been marked by unpredictable events, adding to the market’s uncertainty. The ongoing trade war developments between the United States, Mexico, Canada, and China have put additional pressure on financial markets, including crypto assets like Solana. Meanwhile, President Trump’s executive order to establish a Strategic Bitcoin Reserve had an underwhelming effect on the market, failing to generate the bullish reaction many investors had hoped for.
Despite these challenges, some technical indicators suggest that Solana may be gearing up for a significant move. Martinez’s analysis highlights that SOL remains in consolidation within a right-angled ascending broadening pattern. Historically, this formation has led to high volatility and a breakout in either direction, hinting that a major price move could be coming soon.
If Solana breaks below $140, it could trigger a deeper correction, further reinforcing the bearish trend. However, if bulls manage to push SOL above key resistance levels, it could reverse the downtrend and set the stage for a strong recovery rally.
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For now, traders are closely monitoring SOL’s price action, waiting for a decisive move that could determine its next major trend. The coming days will be crucial in assessing whether Solana can stabilize and rebound or face further downside pressure.
Solana Battles To Hold Ground At Lower Levels
Solana is currently trading at $139 after failing to reclaim the 200-day Moving Average (MA) and Exponential Moving Average (EMA), which sit around the $184-$186 resistance zone. The inability to break above these critical levels has left bulls in trouble, as SOL struggles to hold the $140 support and now risks setting fresh lows below $125.
The bearish momentum has kept SOL under pressure, with price action confirming a continued downtrend. If sellers gain more control and $140 fails to hold, a breakdown below $125 could trigger further downside, forcing SOL into lower demand zones.
However, despite the current weakness, there’s still a chance for recovery. If bulls can push SOL back above $180, reclaiming this critical level could shift market sentiment and trigger a strong recovery move. A decisive breakout above this zone would invalidate the bearish outlook, signaling a potential push toward higher resistance levels.
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For now, traders are watching closely to see whether Solana can hold its key support or if another leg down is inevitable. The next few days will be crucial in determining whether SOL can stabilize or face deeper losses in the short term.
Featured image from Dall-E, chart from TradingView
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Analyst Unveils Catalysts That Could Trigger ‘Crazy Pump’ for Solana, Says SOL Could Become the Hardest Layer-1
A widely followed analyst is leaning bullish on Solana (SOL) over the long term amid an upcoming upgrade.
In a new video, the analyst pseudonymously known as InvestAnswers tells his 563,000 YouTube subscribers that a proposal to reduce Solana’s inflation rate by around 80% at the end of Epoch 755 heightens Solana’s bullish prospects.
An Epoch is a fixed period during which certain network activities such as governance matters, protocol upgrades, and other related matters are decided and executed.
At the same time, InvestAnswers says the bullish thesis for the sixth-largest crypto asset by market cap is further improved if the U.S. Securities and Exchange Commission (SEC) approves a spot Solana exchange-traded fund (ETF).
“…they’re coming up with this vote to reduce inflation on Solana, which currently is not that bad at all. But that will reduce inflation from about 4.8% down to about 0.86% inflation.
If it passes, if it passes and it’s looking possible that it might… the voting ends at the end of Epoch 755… if this does happen, all of a sudden Solana becomes the hardest layer-one asset.
Remember, Bitcoin inflation is 0.85%. Solana’s, if this passes, will be 0.86%.
And my question is, what happens if a Solana ETF comes? I mean, so much is staked. There’s very little on exchanges. We could see a crazy pump.”
On the reduced staking rewards, the proposal to cut Solana’s inflation rate is likely to have, InvestAnswers says,
“People say, ‘well, if inflation goes down, won’t my staking rewards go down?’ Well, the math of it is your price appreciation will far exceed your staking rewards.
So please think price appreciation – do you want an asset to go from $120 to $240 or do you want an asset to stay at $120 and get 6% or 8% per year. The answer is you want it to double. That will impact price appreciation more.”
Solana is trading at $126 at time of writing.
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Today in crypto, CZ asks Elon Musk to ban automated bots on X, disappointment surrounding the US Strategic Bitcoin Reserve signals unrealistic investor expectations, and according to regulatory experts, Michael Saylor advocated for an aggressive US government approach to Bitcoin accumulation.
CZ asks Elon Musk to get rid of automated bots on X
Binance co-founder Changpeng Zhao (CZ) asked Elon Musk to ban automated bots on X — a problem that the crypto community has grappled with for years now.
“I think X should ban all bots. I only want to interact with humans here — not ‘automated,'” CZ wrote in a March 9 X post.
Automated bots amplify messages by liking or retweeting posts and can even comment on posts, which is often done in a coordinated fashion by an individual or teams running bot farms.
Source: CZ
These automated bots often pose as crypto influencers or executives from the digital asset industry to peddle fake tokens, fraudulent airdrop scams, and promote phishing links designed to steal funds from unsuspecting users.
A 2023 study from the Network Contagion Research Institute also found that coordinated bot attacks were used to manipulate crypto prices.
Bitcoin reserve backlash signals unrealistic industry expectations
The widespread disappointment surrounding the US Strategic Bitcoin Reserve — hailed as a historic step for Bitcoin adoption — suggests unrealistic investor expectations, according to regulatory experts.
President Donald Trump signed an executive order on March 7, which will utilize Bitcoin (BTC) seized in government criminal cases rather than purchasing the asset directly from the market. The announcement triggered a more than 6% drop in Bitcoin’s price, falling from $90,400 to $84,979, according to Cointelegraph Markets Pro data.
The reaction signals unrealistic industry expectations, according to Anastasija Plotnikova, co-founder and CEO of Fideum, a regulatory and blockchain infrastructure firm focused on institutions.
BTC/USD, 1-month chart. Source: Cointelegraph
“It was very clear that the US government could utilize the existing BTC in their possession, aka seized funds,” she told Cointelegraph, adding:
“It is bizarre to see such a big public disappointment coming from some industry players. […] Not that long ago, even the idea of BTC Reserve held and supported by a federal government was a revolutionary idea, and now we see a very solid implementation.”
The Bitcoin reserve is a “cautious” approach with taxpayer funds, which “make this decision well aligned with the messaging from this administration,” added the regulatory expert.
Michael Saylor pushes US gov’t to purchase up to 25% of Bitcoin supply
Strategy founder Michael Saylor has proposed that the United States government aims to acquire up to 25% of Bitcoin’s total supply over the next decade for its Strategic Bitcoin Reserve.
“Acquire 5-25% of the Bitcoin network in trust for the nation through consistent, programmatic daily purchases between 2025 and 2035, when 99% of all BTC will have been issued,” Saylor wrote in a document titled “A Digital Assets Strategy to Dominate the 21st Century Global Economy.”
Saylor presented the document to US President Donald Trump, government executives, and global crypto leaders at the White House Crypto Summit on March 7.
He explained that the government should stick to a “Never sell your Bitcoin” policy, predicting that by 2045, the Strategic Bitcoin Reserve could generate over $10 trillion annually, and serve as a “perpetual source of prosperity” for Americans.
Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Binance co-founder Changpeng Zhao has suggested that the highly anticipated Altseason isn’t here yet as most altcoins continue bleeding, while some market watchers consider the worst might be over soon. On Friday, Changpeng Zhao, also known as CZ, responded to an X user asking when the Altseason will happen. The Binance founder pointed out the price tracking and market data website CoinMarketCap (CMC), which recently added an “Altcoin Season Index.” CZ highlighted that “of the top 100 altcoins,” very few have outperformed Bitcoin (BTC) in the past three months, suggesting that the Altseason won’t happen yet. As the website states, the CMC Altcoin Season Index page “provides real-time insights into whether the cryptocurrency market is currently in Altcoin Season,” based on the performance of the top 100 altcoins against the flagship crypto over the past 90 days. Under this metric, an Altseason is in if 75% of the top 100 altcoins outperform BTC during the established period. To CZ, “This is a tough ranking system,” as he considers that 50 would be a good score for Altcoins. The CMC index page shows a score of 14/100, with only 14 altcoins outperforming BTC since early December. Some of the tokens in this list include Monero (XRM), Hyperliquid (HYPE), Pi (PI), Mantra (OM), Berachain (BERA), and the official Trump memecoin (TRUMP). Leading cryptocurrencies of 2024, like SUI and Solana (SOL), show 37% to 41% price decreases in the past 90 days. Meanwhile, memecoin sensations like dogwifhat (WIF), PEPE, FLOKI, and BONK have bled between 70% and 80% during this period. Analyst Michaël van de Poppe also noted that altcoins have had an overall negative performance on higher timeframes despite some recent price rallies. “Massive green day on some Altcoins, they are up 2%! Then, you zoom out, and you zoom out, and you zoom out,” he asserted. Altcoin Sherpa stated that altcoins were in “about the same or worse” positions during the Summer 2024 retrace, pointing out that “things were also pretty bleak overall and then we saw some strong bounces in August.” However, he noted that, unlike last year, the market doesn’t have a “Trump Pump coming.” Recently, some of the top cryptocurrencies saw a significant price increase after US President Donald Trump announced a strategic reserve that would include SOL, XRP, Cardano (ADA), Ethereum (ETH), and BTC. Nonetheless, after the March 6 executive order establishing a Strategic Bitcoin Reserve and a “Digital Asset Stockpile,” the White House AI and Crypto Czar, David Sacks, clarified that the previously named altcoins were used as references for the most valuable tokens in the market. Sherpa considers that the market’s bottom is close, but “we still also probably have the chop period to get through” before any substantial recovery. On the contrary, some industry figures have also commented on altcoins’ overall performance this cycle, suggesting that the Altseason already started but will be different from previous cycles. Recently, CryptoQuant’s founder and CEO, Ki Young Ju, stated that the Altseason had begun. He affirmed there will not be a direct Bitcoin-to-altcoins rotation this cycle, as BTC dominance isn’t the key metric that defines it. To the CEO, trading volume is the metric that defines it this time. Ju also pointed out that this will be a very selective and challenging altseason, with only a few altcoins with strong narratives expected to thrive. Featured Image from Unsplash.com, Chart from TradingView.com Arthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025 Expert Sees Bitcoin Dipping To $50K While Bullish Signs Persist Aptos Leverages Chainlink To Enhance Scalability and Data Access Bitcoin Could Rally to $80,000 on the Eve of US Elections Sonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje Institutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals Crypto’s Big Trump Gamble Is Risky Ripple-SEC Case Ends, But These 3 Rivals Could Jump 500x
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CZ Says There’s No Altseason Yet
Altcoins Bottom Could Be Near
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