#solana

Solana (SOL) has seen a sharp price drop, down 6.80% to $180.80, fueled by recent rug pull scams affecting investor trust. Technical analysis shows a bearish head-and-shoulders pattern, with a neckline at $180.50. A break below could see prices drop to $110, a 40% decrease. Despite this, if SOL holds above $180.50, a recovery to $215 is possible, supported by Solana's low fees and scalability for DeFi and NFTs.

Community sentiment on X is divided; some predict further drops due to scams, while others see a buying opportunity. Long-term growth hinges on regulatory clarity and tech advancements, with forecasts suggesting SOL could hit $300-$500 by 2025. Despite current challenges, Solana's resilience offers hope for recovery and growth.