A prominent crypto analyst, Credible, has made a bold prediction that Solana (SOL) is on the verge of a catastrophic meltdown. With a following of 395,200 on the social media platform X, Credible believes that Solana is currently in a distribution phase, where deep-pocketed investors are methodically selling their holdings without causing a market crash. According to Credible, Solana may experience one final surge to the $230 level, driven by Bitcoin's (BTC) strength, before embarking on a strong downtrend.

Credible's chart analysis suggests that SOL could plummet below $100, a stark contrast to its current trading price of $169.84. Meanwhile, Bitcoin is expected to remain strong on lower time frames, potentially experiencing a brief dip to the $67,800 area before reclaiming resistance at $72,000. At the time of writing, Bitcoin is valued at $69,386.

While Credible's predictions may seem ominous, it's essential to remember that the crypto market is notoriously unpredictable. Investors should always exercise caution and conduct thorough research before making any high-risk investments.

In related news, macro strategist Henrik Zeberg has predicted that Bitcoin will make a significant move to the upside in the near future. Zeberg believes that Bitcoin could soar over 64% from its current value by the third quarter of the year, reaching a target of $110,000 to $115,000. This prediction is based on Zeberg's analysis of market trends and economic indicators, including the potential for a US economic recession by the end of 2024.

As the crypto landscape continues to evolve, investors must remain vigilant and adapt to changing market conditions. While predictions and analysis can provide valuable insights, they should not be taken as investment advice. It's crucial to stay informed, do your due diligence, and always prioritize risk management.