Bearish chart pattern hints at $70 Solana (SOL) price before a possible overs...
A confirmed head and shoulders pattern on SOL’s daily chart points toward a drop to $70. Solana (SOL) price may fall to $70 a token in the coming weeks as a head and shoulders setup emerged on the daily timeframe and possibly points toward a 45%+ decline.The chart below shows that SOL price rallied to nearly $217 in September 2021, dropped to a support level near $134 and then moved to establish a new record high of $260 in November 2021. Earlier this week, the price fell back to test the same $134-support level before breaking to a 2022 low at $87.73.SOL/USD weekly price chart featuring....
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Solana (SOL) price has enjoyed a winning streak by a whopping 75% as seen in the past two months after it has capsized to a mere $25.75. SOL forms head-and-shoulders pattern hinting at bearish movement. Solana’s 75% gain witnessed in the past two months may be a potential fake-out. SOL price down by 2.40% and trading at $42.86 as of press time. However, the gains may prove to just lead the traders on due to an impending bearish movement. Does this hint at a potential bullish fake-out? SOL formed a head-and-shoulders pattern which can be resolved once the price breaches below the neckline.....
More bearish cues for SOL comes from a bull flag setup that's now breaking to the downside. A rebound move witnessed in the Solana (SOL) market this weekend exhausted midway as its price dropped below the $90 level from a high of $96 on Feb. 21. In doing so, SOL price technicals are now risking a classic bearish reversal setup.Solana price risks dropping to $60Dubbed head-and-shoulders (H&S), the technical pattern emerges when the price forms three peaks in a row atop a common support level (called a neckline). As it typically turns out, the pattern's middle peak, called a "head," comes....
Solana Price shot up by 8% over the last 24 hours, painting a bullish chart. Over the past week, the altcoin soared almost 17%. This made Solana one of the top gainers in the past week. Solana has been able to break past its $33 mark and has turned bullish on its chart. It also formed a bullish pattern, thereby giving hope to traders. Solana might encounter rigid resistance at the $41 price zone. Many altcoins have managed to flash signs of optimism as Bitcoin started to trot up on its chart. The technical outlook pointed toward the bulls taking over as demand for Solana shot up. Traders....
Solana’s price is unstable following an exploit by hackers draining funds with the use of external applications. Around 8,000 wallets were hacked from Phantom and Solana, with roughly $8 million stolen from users. The coin’s price immediately nosedived to $40 with support at $35. A Solana NFT marketplace, Magic Eden, advised wallet users of Phantom and Solana to revoke their permissions found on the wallet application’s setting. Fortunately, only some wallets were drained of funds, and the network wasn’t jeopardized in its entirety. Yesterday, the trading volume is in pitch red when....
DeFi contagion fears and bearish technicals mean additional downside pressure on Solana price. Solana (SOL) tumbled on June 16 amid a broader retreat across the top cryptocurrencies, led by the Federal Reserve's 0.75% interest rate hike a day before.Solana price rebound fizzlesNotably, SOL/USD plunged nearly 17% to $30 a token, wiping almost all the gains from the day before. The SOL price volatility liquidated almost $10 million worth of contracts in the past 24 hours across multiple crypto exchanges, data from Coinglass shows. SOL liquidation record since May 17. Source: Coinglass The....