This is a public service announcement: Please be extremely cautious with $SOL (Solana). The technical chart structure is screaming danger and potential capitulation.
1. Massive Double Top: The price action confirms a colossal double top reversal pattern with two peaks around the $260 region. This pattern often signals a major trend reversal from bullish to bearish.
2. Broken Trendline: Crucially, the price has emphatically broken and closed below the major long-term support trendline (the green support zone). This confirms the end of the previous uptrend and validates the Double Top pattern.
3. Severe Downside Target: Based on the textbook breakdown of this pattern, the technical projection points toward an extremely deep downside target near $25.00. This is not a slight pullback—this is market structural failure.
Entering a long position here is incredibly risky. Do not try to 'catch the falling knife' simply because the price looks cheap relative to its peak. The momentum is strongly bearish, and there is a severe absence of reliable support levels to hold the price. I strongly advise staying on the sidelines and practicing stringent risk management.
Are you holding any coins with similar ugly charts? Share in the comments so we can all be aware!
- Keep calm and HOLD Bitcoin, simple earn at Binance
#SOL #CryptoWarning #Shitcoin #dump #RiskManagement
