Solana Price To Soar To $1200 Or Risk Dropping To $50, Says Analyst

• Solana price prediction by top analyst reveals SOL to soar to new ATH or crash to $50.
• Solanas price action is entering a decisive phase as volatility continues to contract within a symmetrical triangle pattern.
• Solana-based decentralized exchange Jupiter launched a new prediction market powered by Kalshi.

Solana price edged lower on Tuesday, changing hands near $185. The drop from Mondays high of $194 reflected the broader risk-off tone spreading across the cryptocurrency market. Analysts said investors appeared cautious, choosing to stay on the sidelines amid ongoing macroeconomic uncertainty and the absence of fresh market catalysts.

However, one top analyst claimed Solana price would soon surge to a new all time high at $1200 or risk dropping to $50.

Solana Price Prediction By Top Analyst Reveals SOL To Soar To New ATH Or Crash To $50

Solanas extraordinary rally appears to have reached a crucial juncture. After soaring more than 3,700% since December 2022, the token now faces a defining moment. This will either set the stage for new all-time highs or prepare for a deeper correction towards $50.

On the weekly chart, SOL is hovering just below the $225 resistance zone, a level that has repeatedly capped bullish momentum since early 2024. Each attempt to break through has been met with selling pressure, signaling strong supply in that region. A decisive close above this barrier could ignite a new leg higher, opening the path toward $465 and potentially $1,000 over the longer term.

However, if the bulls fail to regain control, Solana risks retracing toward the $105 and $65 support levels. These two zones previously acted as key accumulation points. A breakdown below them could deepen the correction, with $50 emerging as a possible downside target.

At this stage, the market seems to be in a wait-and-see mode.

Momentum has slowed, and traders are weighing whether the recent pullback is a pause before continuation or the early signs of exhaustion after an impressive multi-year run.

Expert Says SOL Volatility Is Breaking

Solanas price action is entering a decisive phase as volatility continues to contract within a symmetrical triangle pattern. This tightening structure often precedes a significant move, suggesting that traders are carefully watching for the next breakout signal.

Currently, a chart by Four crypto Spaces shows Solana consolidating between converging trendlines, with price compressing toward the apex. This kind of price behavior usually indicates that both buyers and sellers are reaching a temporary balance, awaiting fresh momentum to define the next direction.

The green circled area marks a potential breakout point where momentum could shift sharply in either direction.

If bullish pressure returns, the next logical target sits near the $210 resistance zone. This level aligns with previous highs and represents a key psychological and technical barrier.

A strong breakout above it could open the door to a sustained upside move.

Source: Four crypto spaces

On the other hand, failure to hold the ascending trendline support could delay any bullish continuation, possibly leading to a short-term pullback before another attempt higher.

Solana price current tightening range suggests a storm is brewing beneath the surface. Traders should keep a close eye on volume and price action near the triangles edge This is where once the setup resolves, the move that follows could be both swift and decisive.

Solana-based DEX Jupiter Unveils Prediction Markets

Solana-based decentralized exchange Jupiter launched a new prediction market, debuting with an event centered around the upcoming Formula One Mexico Grand Prix.

According to the team, the platform is powered by Kalshi, a major player in event-based trading. It allows users to place wagers on potential race outcomes, including which driver might take the top spot.

Participants can speculate on favorites such as Max Verstappen, Lando Norris, Oscar Piastri, George Russell, and others.

The Mexico Grand Prix is scheduled for October 27, starting at 19:00 UTC. The race will span 71 laps, offering traders and racing fans alike an opportunity to test their instincts and market timing in real time.