Bears or Buyers? Solana’s 21% Drop Setup Hits Heavy Defense
BeInCrypto
Solana displays a bearish double top pattern, but significant exchange outflows and strong cost-basis support levels are creating a critical defensive wall.Summary
Solana (SOL) is currently testing a bearish double top technical pattern that suggests a potential 21% decline toward $76.66. However, this downward pressure is being countered by significant on-chain support, including concentrated cost-basis clusters between $85 and $89. Additionally, exchange outflows have surged by 356% since early May, indicating strong accumulation that may delay or invalidate the technical breakdown. The asset's ability to hold above the 50-day EMA and key Fibonacci levels will be decisive in determining whether the price continues to drop or regains bullish momentum.
(Source：BeInCrypto)