Solana (SOL) has been falling for the past 7 days, and the price is down 12% this week. It’s not a fast crash — instead, it’s been a slow, steady decline, forming what’s called a “rounding top” pattern. That’s usually not a great sign for bulls.
What’s happening?
Traders aren’t rushing to sell — but the slow sell-off means there’s no leftover liquidity for bulls to bounce off. Unlike a quick crash, this kind of drop doesn’t create an easy rebound.
From the top at $206 down to the current support at $159, that’s a 22% fall. If Solana breaks below $159 (just 2.45% lower than today), we could see another big drop — possibly to $120.
When?
It could happen this weekend, especially since weekend markets are often unpredictable and bearish.
Will SOL really crash to $120?
If bears keep control like they are now, yes, it’s very possible. Some analysts believe August won’t end without SOL hitting that level.
But here’s the twist:
There’s still a small chance for a comeback. The Awesome Oscillator (AO) is showing some green bars, even though it’s still in the negative. This might mean sellers are getting tired — but bulls need those bars to cross above zero before it means anything bullish.
Stay alert, traders! SOL is at a critical level. Will it bounce or break?
Let’s see how the market plays it.
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