The analyst who predicted Solana’s 73% drop now eyes $72 support. Here’s what the expert says could happen next for SOL.
Solana remains under close watch after a sharp decline from its previous highs. Market participants now track whether the asset can stabilize above key support levels.
Analyst Crypto Patel recently revisited the trend in an X post, pointing to earlier warnings before the major drop.
Patel said he advised traders to exit Solana between $200 and $250 when the market expected a move to $1,000. According to his post, SOL later dropped 77% from $295 to $67. The analyst now says the next move depends on whether the current support level holds.
Solana’s $72 Support Level Holds the Key
Crypto Patel noted that Solana has bounced strongly from the 0.50 Fibonacci retracement level. Price is currently holding above $72.
According to Patel, if bulls defend this zone, a trend reversal could follow. That is the scenario he believes could put buyers back in control.
Everyone Laughed When I Said Exit #Solana at $250 – That Laugh Cost Them -73%
Called the exit at $200-$250 when everyone was dreaming $1000.$SOL dumped 77% from $295 to $67. Exactly as I warned.
Now price has strongly bounced from the 0.50 Fib retracement and holding above… https://t.co/dO6qkKzIef pic.twitter.com/b4XtVPzPRQ
— Crypto Patel (@CryptoPatel) March 6, 2026
However, he made one thing clear.
A daily close below $72 changes everything. In that case, he said he is ready to “accumulate heavy” under $50. That remains his preferred long-term entry zone. Despite the recent turbulence, his long-term price target for Solana stays at $500 to $1,000 and above.
Technical analysis of the daily chart supports the cautious tone. Solana price is currently trading around $84-$85 after a prolonged downtrend. Since the highs near $240, the market has printed a steady series of lower highs and lower lows.
The structure remains bearish for now.
Bearish Structure Clashes With Early Recovery Signals
The Ichimoku Cloud indicator tells a straightforward story.
Solana is trading below the cloud, below the conversion line, and below the base line. The cloud overhead sits between $105 and $120 and acts as a strong resistance zone.
For any real trend shift, SOL would need to break $100, reclaim the cloud, and flip it bullish. None of that has happened yet.
RSI sits around 44-46. It recovered from oversold territory near 30 in February but has not crossed above the key 50 level.
A push above 50-55 would signal stronger recovery momentum. Until then, the bounce looks more like a relief rally inside a larger downtrend.
MACD does offer one silver lining. The MACD line has crossed above the signal line, and the histogram has turned green. That points to improving short-term momentum.
Still, MACD remains below the zero line, which keeps the broader trend bearish.
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What Happens Next for Solana Price
Volume data adds more context. Heavy sell volume drove the February drop.
Since then, volume has thinned out during consolidation. That suggests selling pressure is easing but strong buyers have not stepped in yet. A real recovery would need high green volume spikes and a clean break above $95-$100.
The $82-$85 zone is the immediate battleground. Holding it opens the door to a relief rally toward $95-$110. Losing it could drag price down to $75 first, then potentially $65 or $55.
Given the sequence of lower highs and lower lows, the bearish scenario still carries slightly higher probability.
Patel summed up his approach in a few words:
“Exit when others are greedy. Enter when others are fearful.”
He closed his post with the standard reminder that the content is not financial advice and encouraged his followers to do their own research.
