Solana been sliding for a week straight, down 13%, with bears slowly dumping instead of panic-selling. This gradual drop has formed a rounding top pattern, and unlike a sharp crash, there’s no clear liquidity gap for bulls to exploit.
From its $206 peak, $SOL has already fallen 22% to $159 support. If it breaks below that (just 2.45% away), things could get ugly, especially with weekends often favoring bears. Next stop? Possibly $120 before August ends if the sell-off continues.
But there’s a small hope: the AO indicator is flashing green (though still negative), hinting that sellers might be losing steam. A move above zero could signal a reversal. Until then, SOL fate depends on whether bulls step in or bears keep pushing. Buckle up.
