While short-term speculative traders are sidelining SOL with its descent toward $80, smart money appears to be doubling down on Bullish Solana price predictions.
The altcoin has lost critical footing, breaking the $100 historical support that has marked an absolute bottom over the past two years.
The violent sell-off over the past week bears all the hallmarks of capitulation. Crypto’s tenth-largest liquidation event flushed out excess leverage, forced indiscriminate selling, and briefly drove SOL to $67 in a compressed move.
Now, it appears to be stabilising around a demand zone at $80. While this level lacks the same historical backing as $100, smart money may have already given it its vote of confidence.
Since December, investors have accumulated in toe with the decline, adding roughly 5 million SOL worth $455 million. It continues to be treated as a buy-the-dip opportunity.
This accumulation is significant as the Market Value to Realized Value (MVRV) ratio reads 0.65, a near two-and-a-half-year extreme that places SOL firmly in undervaluation territory.
An MVRV below 1 indicates that the majority of holders are underwater. Selling now would come at the cost of realising heavy losses, making HODLing more likely.
Doubling down and accumulating under such conditions is a clear display of conviction and a potential bottom signal.
Solana Price Prediction: Is Smart Money Onto Something?
There is a strong technical basis for a bottom, with the recent downside fully releasing the breakdown of a two-year bearish head-and-shoulders pattern.
And with it, momentum indicators are showing historical signs of seller exhaustion.
The last time the weekly RSI reached the 30 oversold threshold, it marked the previous cycle’s respective lows and the transition into its most bullish phase.
While the liquidation event has set the MACD back, previous months demonstrate a clear compression towards a golden cross above the signal line.
Bullish pressure has been building for some time now, and $80 stands as the launchpad for it to release.
A rebound would first target the $105 neckline of the patter 30% above current levels, reclaiming this level as firmer and higher footing could fuel a more sustained upwards move.
As market sentiment clears and focus is recentered on fundamentals, the move could credibly extend back towards all-time highs around $300, marking a 270% gain.
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For traders who missed previous Doge-led runs, Maxi Doge could offer another early entry before the bull run kicks in.
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The post Solana Price Prediction: $80 SOL Looks Scary – But Smart Money Just Signaled This Might Be the Bottom appeared first on Cryptonews.
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