The Solana Pattern Traders Love Is Actually a 50% Crash Setup
BeInCrypto
Solana's current rising channel may signal a significant price drop rather than a reversal, as on-chain data indicates weakening holder conviction.Summary
Solana (SOL) is currently trading within an ascending channel, a structure often perceived as bullish. However, analysts warn that this pattern may actually be a continuation of a previous bearish trend rather than a true reversal. Diminishing trading volume, a 13% decline in hodler net position changes, and minimal unrealized losses among short-term holders suggest that the asset is vulnerable. If SOL fails to hold its current support level at approximately $81.24, the technical setup indicates a potential for a 50% crash, mirroring previous downward market movements.
(Source：BeInCrypto)