Solana Price Risks 17% Drop to $78 if Wave Correction Unfolds

• Crypto Patel sees 90–93 as initial support. His deeper 73–78 target implies roughly 17%–22% downside from $93.92.
• More Crypto Online sees a move above $99 opening a path to 103–104, where buyers would face another test.
• Solana led weekly tokenized equity spot trading on decentralized exchanges for a second straight week, with $977 million in volume.

Solana price slipped 0.88% to $93.92 over 24 hours, leaving SOL less than a dollar above its recent $93.21 low. Crypto Patel sees room for a rebound before a deeper decline. In his Elliott Wave analysis, even a recovery to $112 could fit a correction that eventually takes the token to 73–78.

Solana Price Nears Support as Tokenized Stock Trading Grows

SOL traded just below its seven-day simple moving average of $94.18. Its relative strength index stood at 41.01, below the neutral reading of 50 but above the conventional oversold threshold of 30. The first test is whether buyers step in again near $93.21, just above Patel’s 90–93 support zone.

The softer Solana price coincided with brisk trading in tokenized stocks. SolanaFloor reported $977 million in weekly spot volume for those assets on decentralized exchanges. That put Solana ahead of other blockchains for the second consecutive week.

Why a Solana Price Bounce to $112 Could Still Fit a Correction

If sellers regain control there, Patel sees the final decline reaching 73–78. His later 160–200 Solana price target depends on buyers establishing a base in that lower zone. A higher-timeframe close above $114 would invalidate his bearish setup.