$80 SOL sounds scary – but the smart money is right on the mark that this might be the bottom.
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Harvey Hunter
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While short-term speculators are pushing SOL down to $80, the smart money seems to be doubling down on the bullish Solana price forecast.
The altcoin has lost significant legs in the last two years, breaking the historical support of $100.
Last week's violent sell-off bore all the hallmarks of sentiment. Crypto's tenth largest liquidity event unleashed excessive leverage, indiscriminate selling and briefly drove SOL to $67 in compressed activity.
Right now, it looks stable around the $80 demand zone. While this level doesn't have the same historical support as $100, the smart money may have already given it a vote of confidence.
Since December, investors have piled on to the crash, adding 5 million SOLs worth about $455 million. It will continue to be treated as a buying opportunity.
This stock is significant with a market value to true value (MVRV) ratio reading of 0.65, a nearly two-and-a-half-year high that puts SOL at a valuation low.
An MVRV of less than 1 indicates that most containers are under water. Selling now comes at the cost of realizing heavy losses, making HODLing more likely.
Doubling and piling up in such situations is proof of guilt and a potential bottom sign.
Solana Price Prediction: Is The Smart Money Onto Something?
There is a strong technical basis for the downside, with the recent bearish side completely breaking out of the two-year bearish head and shoulders pattern.
And with it, momentum indicators are showing historical signs of seller fatigue.
The last time the weekly RSI reached the oversold level of 30, it marked the respective lows of the previous cycle and the transition to an extreme phase.
While the liquidity event caused the MACD to pull back, the previous months show a clear squeeze on the golden cross above the signal line.
Brutal pressure has been building for some time now, and $80 stands as a launching pad for release.
A rebound will initially target Pater's $105 neckline, which is 30% above current levels, where a strong, higher hike could fuel a more sustained upward move.
As market sentiment clears and fundamentals focus, the move could extend to a high near $300, representing a 270% gain.
Maxi Doge: A hedge against short-term volatility
Tried-and-tested altcoins like Solana are an easy bet, but the broader market cap creates a unique opportunity to place ahead of the next high-beta plays.
One pattern has remained persistent between cycles: Capital will eventually focus on a single Dodge-themed token.
It is well known. Dogecoin led the charge, Shiba Inu followed in 2021, then came Floki, Bonk, Dogwhiphat and Nero. Each bull run eventually crowns a new doge-inspired lead.
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The speed is already visible. The $MAXI presale has raised nearly $4.6 million, with early backers earning up to 68% in rewards.
For traders who missed previous doge-led runs, the Maxi Doge may provide another early entry before the bull run enters.
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