Is Solana headed to $50? These three charts show a textbook bear pattern

💡 DMK Insight

SOL’s head-and-shoulders pattern is a red flag for bulls right now. With the price currently at $86.66, the pattern suggests a potential drop to around $50, which could trigger panic selling among retail traders. This bearish setup is significant, especially if SOL breaks below key support levels. Watch for the $80 mark—if it fails to hold, we could see a swift move toward that $50 target. Additionally, this pattern might influence broader market sentiment, especially for altcoins that often follow SOL’s lead. If SOL tumbles, expect correlated assets like ETH and ADA to feel the heat as traders flee to safety. On the flip side, if SOL manages to reclaim the $90 level, it could invalidate the bearish pattern, offering a short-term buying opportunity. Keep an eye on volume trends as well; a spike in selling volume could confirm the bearish outlook. The next few days are crucial, so stay alert for any shifts in momentum.