based on materials from the site - By Thecoinrepublic.com

In recent months, the price of Solana has shown strange dynamics. In one day, the price jumped more than 4%. However, over the last three months, the increase has been only about 3%. This means that Solana has often fluctuated between $170 and $210 without a clear direction.

Traders have watched as the price of SOL has remained within the range of $170 to $210 for weeks. Many were expecting a breakout, but now a sharp decline is possible.

One bearish pattern on the chart, combined with exchange flows and open interest, indicates that a drop of 17% may occur soon. The risk is real, and it comes from within the chart.

Chaikin Money Flow (CMF) is a simple way to track how much money is flowing into or out of a coin. If the value is very high, it indicates strong buying power. If the value is low or falling, it indicates weak buying power or their exit.

Currently, Solana's CMF is not very strong. The price has slightly increased. It even reached a new high compared to previous weeks. But it remains below the 0.11 line. This line is important.

If the CMF remains below 0.11, it indicates that buyers are not strong enough to push the price significantly higher.

This means that people are still buying, but not at full strength. Many traders are uncertain. They are buying a little, but they are not sure if the price of Solana will continue to rise. This often happens before the price turns downward.

Another alarming signal comes from what traders are doing with their coins. Data shows that more and more Solana tokens are being sent to centralized exchanges. When this happens, it usually indicates that people are preparing to sell. They transfer coins to exchanges to be able to sell quickly when the price falls.

Alongside this, open interest has fallen. Open interest shows how much money is being used to bet on the price of Solana in the futures market. The higher this number, the more people are making bets. At the end of July, this figure was $12.01 billion. Now it is approaching $10.13 billion. This means that fewer people are betting on Solana. Interest is declining.
Moreover, funding rates remain low. The funding rate is a small fee paid by one side of the market, usually traders with long positions, for keeping their positions open. If the rate is high, it indicates that many are betting on price growth. If the rate is low, it indicates that people do not want to take such risks.

The funding rate for Solana has changed only from 0.0008% to 0.0078%. This is a very minor change. It shows that virtually no one is increasing leverage and making large bets. Even with the price increase, traders remained silent. This is a bad sign for bulls.

The main warning comes from the chart. Solana formed a 'double top' at $209. This means that it attempted to break the $209 mark twice but failed both times. After the second failure, it began to fall. This pattern is known to be bearish. It shows that the coin has lost momentum. Traders are less enthusiastic.

Currently, the price of Solana is around $186. But the key level is $176. This level has held the price multiple times. If it breaks, there will be no significant support below it. In this case, the price could drop to $155. This is approximately 17% lower than the current level.

A move may occur in the $176–$155 zone. If $176 holds, the price may bounce back. But if it is broken, a 17% drop will become quite likely.


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