🚨 Solana Price Prediction: Is $SOL Headed for a Deeper Pullback?
As of June 2, 2025, Solana ($SOL ) is under increased selling pressure, with its price falling from last week’s high of $187 to around $156 today—a decline of over 16% in just a few days.
📉 What’s Driving the Drop?
🔍 Double-Top Pattern Formation
#solana /#usd has recently formed a double-top pattern on the 12-hour chart. This bearish formation is widely recognized among traders and signals potential trend reversals. The peaks were recorded around $184.50, while the neckline sits at $159.45.
A break below this neckline often acts as confirmation of a deeper decline, reflecting waning buying pressure above the key resistance zone.
📊 Technical Breakdown
Current Price: $156
Recent High: $187 #solana
Neckline (Double-Top): $159.45
Target Price (Pattern Projection): ~$136
50% Fibonacci Retracement Level: $195
Indicators:
50-period MA: Price is trading below it — bearish signal
#RSI : Trending down — momentum is fading
MACD & Oscillators: Bearish crossovers indicating continued downside pressure
📉 Short-Term Outlook: Caution Ahead
Traders should take note that breaking below the neckline increases the likelihood of a drop toward $136, which aligns closely with the 23.6% Fibonacci retracement level—a zone that may offer temporary support.
Until #solana regains momentum and breaks above $184.5, bulls are likely to remain cautious. The price being stuck below the 50-period MA confirms bearish dominance in the short term.
🧠 What to Watch
$159.45 Support Zone: Holding above this level could prevent further downside.
$136 Target: If momentum continues to fade, this level becomes the next key support.
Market Sentiment: Broader crypto market trends may amplify or cushion SOL’s movement.
On-Chain Metrics: Watch Solana’s TVL and daily active users for any divergence from the price action.
🔍 Final Thoughts
#solana remains one of the top-performing blockchain ecosystems long-term, but short-term technicals suggest a cautious stance for now. Traders may consider waiting for confirmation of a bounce—or further confirmation of a breakdown—before making decisions.
