Solana Faces 48% Drop Risk as Key Support Breaks, Analyst Warns

Renowned crypto analyst Ali Martinez has shared in-depth analysis across three major assets: Solana, Bitcoin, and Ethereum. His insights raise red flags on current price levels, with technical and accumulation data showing critical pressure points. Martinez highlights that Solana (SOL) could witness a sharp drop. He also emphasizes the importance of Bitcoin and Ethereum key levels. These cautionary signals come amid growing discussions around crypto market momentum, sparking reactions among traders and market watchers.

According to Martinez, SOL risks are escalating as the token trades at around $134. This level is just below its key resistance at $138. A bearish rising wedge pattern has emerged on the 3-day chart. A break below the $128 support has confirmed a downside reversal. This pattern suggests a potential fall as deep as 48%, targeting the $65–70 level. A retest of the broken wedge base highlights the weakening structure. This scenario aligns with traditional technical patterns, where breakdowns from narrowing ranges often result in significant declines. Investors are urged to monitor price action closely to assess whether the token can reclaim support or face further losses. The predicted downward move indicates increased SOL risks as market sentiment turns bearish.

The BTC price is hovering around $84,698. Martinez draws attention to the critical $82,024 level. There are nearly 96,580 BTC accumulated, as per Glassnode data. The “Bitcoin Cost Basis Distribution” chart reveals intense investor interest in this zone. Martinez’s analysis reflects confidence in this support zone, noting that dense accumulation often forms a base for rebounds. The heatmap chart indicates historical BTC price interactions with these accumulation levels. In the chart, red and orange indicate higher holdings. These strongholds provide insight into potential prices during corrective phases. Amid price volatility, this data offers valuable insights on crypto coins, showcasing behavioral patterns of long-term holders. Accumulation zones like $82K can serve as psychological buffers, potentially decreasing short-term correction in the overall crypto market momentum.

Ethereum’s recent breakdown below $1,550 signals a break from prior support, highlighting rising bearish momentum. Glassnode’s heatmap shows a dense supply concentration in the $1,900–$2,000 zone. On April 13, ETH was priced around $1,546, with over 822,000 tokens held at that level. Analysts interpret such conditions as the potential for further declines unless buyers step in at lower levels. The drop below $1,850 marks a failed attempt to hold key support, raising caution for traders evaluating the current ETH price. Still, traders are advised to remain vigilant as market dynamics shift within the crypto market momentum.

Martinez’s analyses serve as a warning and a guide, especially as traders navigate the ongoing uncertainties across digital assets. As we advance, the moments between resistance and accumulation levels will continue to shape crypto market momentum. These technical insights can help investors evaluate risk zones and structure their strategies around price and trend signals. Martinez’s detailed breakdown reinforces the need for cautious optimism across the evolving landscape of insights on crypto coins. The volatility of BTC price shifts continues to create uncertainty in the market. Meanwhile, Ethereum’s heatmap vulnerabilities and SOL risks at critical thresholds heighten concerns for traders.