Don’t Try to Catch a Falling Knife: $SOL
Chart Signals Serious Risk
Solana’s daily chart is flashing major warning signs. The technical structure suggests a high probability of further downside, and caution is strongly advised.
Key Technical Red Flags:
1. Confirmed Double Top Reversal
Price has formed a large double top with peaks near the $260 level. This classic pattern often marks a transition from a bullish trend to a sustained bearish phase.
2. Critical Trendline Breakdown
$SOL has decisively broken and closed below its multi-month support trendline, confirming the loss of bullish structure and validating the double top reversal.
3. Extreme Downside Risk
Based on textbook technical projections, the breakdown implies a potential move toward the $25 region. This would represent structural failure, not a normal pullback.
Bottom Line:
Trying to go long simply because price is far below its highs is extremely risky. Momentum remains firmly bearish, and meaningful support levels are scarce. Patience and strict risk management are essential—standing aside may be the safest choice for now.
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