Solana’s Slippery Slope to $65: Crash or Opportunity?

• Solana drops near key support, risking further decline to $65.
• Analyst warns of bearish pattern signaling deeper correction.
• Janover and OpenSea moves show strong long-term confidence.

Solana’s SOL is taking a beating right now, and the market’s definitely feeling the pressure. The price slipped nearly 5% in the last day, now sitting close to $125. That dip brushed a daily low of $123.72, just barely clinging to the 20-day EMA around $123.90. For traders watching closely, this level could make or break the short-term outlook. One well-known analyst is already calling for a potential drop all the way down to $65.

Analyst Forecast Paints a Rough Road Ahead

Ali Martinez , a respected voice in the crypto scene, isn’t sugarcoating anything. He has spotted a bearish setup on the Solana chart—a “right-angled ascending broadening pattern.” That might sound technical, but it basically means danger’s on the doorstep. According to his analysis, a breakdown below the lower trendline (around $127 to $130) hints at more pain ahead. Here’s how Martinez breaks it down. The widest part of the pattern stretches from $165 to $260. That’s a $95 gap. Dropping that from the recent support level near $130 gives a price target that lands around $65.

That prediction definitely sent a few shockwaves through the community. SOL’s price is hanging around a key support line. Losing this level could open the door for heavier selling. Meanwhile, indicators like RSI are stuck around neutral territory. No clear momentum from buyers or sellers. The Balance of Power tool shows the same story—just noise, no real direction. The market feels frozen, waiting for someone to make the next move.

Big Buyers Still Betting on Solana

Not everyone’s panicking though. Janover , a real estate finance platform, just dropped a serious chunk of change—$10.5 million worth of Solana added to their holdings. That bumps their total stash to over 163,000 tokens, valued north of $21 million. That’s not a casual buy. That’s long-term confidence. Janover’s CEO is betting on a DeFi boom. He even plans to stake all those new tokens right away.

That kind of commitment says a lot, especially during a shaky period like this. It’s not just about the price now—it’s about the bigger picture. Over on the NFT front, OpenSea has started testing Solana token trading again. Only select users have access for now, but expansion is on the horizon. If that rollout continues smoothly, liquidity for Solana-based assets could pick up. That would be a welcome shift after months of slowdown in the NFT scene.

There’s more support hiding beneath the surface, too. According to data from Glassnode, over 32 million Solana tokens sit around the $129 mark. That kind of volume signals strong investor interest at this level. Below that, another 18 million tokens are locked in around $118. These numbers suggest a decent floor—unless something drastic happens.