Solana ($SOL ) is facing a tough week as the entire crypto market is crashing. Last week, SOL hit a high of $187, but it has now dropped to $164 — that’s a big fall from this month’s highest price. Right now, it’s down about 45% from that peak, and it looks like the price could drop even more.
What’s Happening to #Solana ?
SOL has formed something called a double-top pattern on its 12-hour chart. This is a common technical pattern that usually signals a price drop. In simple terms, it means the price tried to go up twice (around $184.5) but failed both times. The middle support level — called the neckline — is around $159.45.
Traders and investors often get nervous when they see this pattern because it means there’s strong resistance — people are not willing to buy above that $184.5 level. That’s making it hard for SOL to climb higher.
Technical Indicators Show More Downside
$SOL is now trading below the 50-period moving average, which is a sign that sellers (bears) are in control.
The RSI (Relative Strength Index) and other technical indicators are also pointing down. That means the price trend is still negative.
What’s the Target Price?
The distance from the top of the pattern to the neckline is about 14%. If we measure that same drop below the neckline, it gives us a target price of around $136. That’s also near the 23.6% Fibonacci retracement level — another important technical point traders watch.
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In Short: Solana’s price is struggling, and technical signals suggest it could drop even more, possibly to around $136. Be cautious if you're thinking about buying in now.
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