Solana Bear Setup Raises $50 Price Concern

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SOL’s price has validated a classic head-and-shoulders pattern on multiple time frames, with a price target of around $50.

Solana’s SOL has dropped 38% over the last 30 days, falling to a two-year low of $67 on Friday. Multiple analysts believe that the downside is not over for the seventh-placed cryptocurrency, with downward targets extending as low as $30.

Solana’s head-and-shoulders pattern targets a SOL price of $50 or lower.

MVRV bands point to a potential bottom, but support at $75 must hold.


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