Solana Price Predicted to Plummet Below $48 By Year-End

Solana (SOL) continues to face challenges in the market, extending its losing streak to 10 consecutive months. According to prediction markets, SOL is expected to drop below $48 by year-end, which aligns with the broader narrative of a crypto market crash.

The price action on the 4-hour chart reveals that SOL is trading below both the EMA50 and EMA200 indicators, indicating a strong bearish trend. The MACD golden cross at -0.2 provides some support for the asset, but it's not enough to stem the decline.

The Bollinger bands show that SOL is currently testing upper resistance at $74.13, suggesting that any short-term bounce may be limited before a deeper retracement towards lower band support at $71.79.