Mother dina 😂

$SOL next target 119? Let’s break it down~

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The pattern in the chart appears to be a bearish flag formation.

Understanding the Bearish Flag Pattern

A bearish flag is a continuation pattern that signals the likelihood of further downside movement after a brief consolidation. It consists of:
1. A sharp downward move (flagpole) – This happens due to strong selling pressure.
2. A channel or consolidation phase (flag) – The price moves upwards or sideways in a parallel, upward-sloping channel, showing weak buying before another potential drop.

How the Bearish Flag Works in #sol Chart

• The flagpole formed from around 209.05 to 160.88, showing a significant drop.
• The price then moved inside an ascending parallel channel, which is the bearish flag pattern.
• Recently, SOL broke below the flag’s support, confirming a potential further downward move.

What This Means for #solana ?

1. Breakdown Confirmation – The price has broken below the lower trendline of the flag, which is a bearish signal.
2. Target Price Calculation –
• The flagpole’s height = 209.05 - 160.88 = 48.17
• Expected breakdown target = Breakdown point - Flagpole height
• If the breakdown was near 167, the target could be around 167 - 48.17 = ~119
3. Bearish Momentum – Increased selling pressure and volume confirm the breakdown.
4. Key Support Levels – The next major support could be around 158.47 and 160.88, which were previous lows.

What to Watch Next?

• If SOL stays below the flag’s lower boundary, it could continue downward toward 158-150 levels.
• If it reclaims the flag and moves back up, the breakdown could be invalidated.
• Volume is key—higher selling volume confirms bearish strength.

What’s your opinion ? comment below

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