Solana Price Faces New Risk Despite Growing On-Chain Adoption

Solana (SOL) price trades near $106 after a roughly 15% pullback from its late-September high. The daily chart now shows a possible head-and-shoulders pattern that could put $80 in play. The weekly chart and on-chain data look more mixed . Fund investors are exiting through ETFs, while asset managers and individual users keep building on the network. Daily Chart of Solana Price Flashes a Head-and-Shoulders Risk Solana’s daily chart still prints higher highs and higher lows. Yet a bearish head-and-shoulders pattern may be forming within that uptrend. The left shoulder formed near $111 in late August. The head peaked near $125 in late September, after sellers rejected the price at the $120 resistance zone. The right shoulder could take shape at the 0.618 Fibonacci level near $115.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to BeInCrypto.