07.04.2026 09:56

Solana’s future trajectory has been revised downwards by former fund manager Aksel Kibar, who explained that the crypto’s price could plunge by more than a third in the near term. As of early‑April, the token has trailed in a prolonged consolidation that began in February 2026, and technical analysis suggests it is shaping a bearish pennant—a pattern that often precedes a resumption of a downtrend after a short pause. In Kibar’s view, the current rally is likely just a temporary reprieve.

According to the charting insights he has shared online, Solana’s price has quietly confirmed a multi‑year reversal once it slipped repeatedly below a substantial buying zone that hovered near the $112 level. This boundary has effectively become a new resistance. If Solana manages to breach that wall and climb above it, the altcoin could potentially surge to a high point of $247, representing an increase of more than 200% over its present value. Nevertheless, this bullish scenario is considered a possibility rather than the prevailing outlook; the overall consensus points to a bearish stance.

The medium‑term picture for Solana is bleak largely because of the broader bearish mood that grips much of the cryptocurrency space. “We’re seeing a pattern that’s common across several crypto pairs—sharp pullbacks followed by tight sideways consolidation that can turn into pennants or flags,” Kibar remarked. He emphasized that Solana, despite recent growth in decentralized exchange usage and increased network activity, remains trapped within a macro‑level downtrend that’s being sustained by limited liquidity inflows.

In line with this, the platform’s open interest—an indicator of the total value of active contracts held by traders across all exchanges—has shown a steep decline, falling from roughly $15.09 billion to markedly lower levels in the past two quarters. This reduction in open interest signals weaker sentiment and further confirms the downside bias that is now characteristic of Solana’s price action.