Positive news for Solana against a negative chart: What will happen next?
Despite impressive developments at Breakpoint, Solana (SOL) remains stuck in a sideways pattern at $131, down nearly 50% from its September high.
🔥 Recent highlights in the ecosystem:
- New bridge connecting Solana and Base through Chainlink.
- Partnership with State Street for the tokenized liquidity fund SWEEP.
- Animoca Brands launches staking on Solana
- Coinbase allows trading of all Solana tokens through DEX.
- Spot Solana ETFs continue to attract capital ($22 million this week)
⚠️ However, technical indicators paint a concerning picture:
- A bearish flag pattern is forming on the daily chart.
- The death cross between the 50-day and 200-day EMA.
- Potential downside target of $100 if the support level of $122 is broken.
The bearish price forecast will be invalidated if SOL exceeds $147. The contrast between strong fundamentals and negative technicals creates an interesting momentum to watch in the coming weeks.
The content is for reference and discussion only, not investment advice.
