$SOL

🚨Solana Price Prediction: Here’s Why SOL/USD Is Crashing🚨

Solana (SOL) has come under pressure this week as the crypto market crash accelerated. After peaking at $187 last week, the coin has pulled back to $159, and there are signs that the sell-off will gain momentum. SOL/USD is trading at $164 today, down by 45% from this month's highest point. The daily Solana price prediction shows that SOL/USD is at risk of further downside soon.

That’s because SOL/USD has formed a double-top pattern at $184.5 on the twelve-hour chart. This pattern is made up of two peaks and a neckline, which, in this case, is at $159.45. A double-top pattern is one of the most accurate chart patterns in technical analysis as it sends a signal that investors are afraid to buy an asset above a certain price.

Following the Solana price prediction, investors are afraid of placing bids above the double-tbop point at $184.5 and the 50% Fibonacci Retracement level at $195. It has moved below the 50-period moving average, a sign that bears are in control for now. Also, the RSI and other oscillators have all pointed downwards, signaling that the downtrend is continuing.

The distance between the upper side of the double-top and the neckline is about 14%. Measuring the same distance from the neckline brings the target price to $136, which is a few points below the 23.6% retracement point.

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