- SOL ($133.81) has declined nearly 38.74% over the past months.
- With Solana experiencing strong bearish sentiments, analyst see a dip to $65.
Over the past day, Solana [SOL] has experienced a sharp decline, hitting a 5-month low of $131. This drop extends a month-long bearish trend which has seen SOL make significant losses on its price charts.
At the time of writing, Solana was trading at $141, marking a 38.74% decline over the past month.
Amidst this drop, Solana’s market cap has also fallen to a 5-month low of $69 billion. This sustained decline has left key stakeholders discussing the altcoin’s future trajectory.
Inasmuch, popular crypto analyst Ali Martinez has suggested a potential dip to $65.
Market sentiment suggests…
In his analysis, Martinez noted that Solana appears to be forming a right-angled ascending broadening pattern.
Usually, this pattern signals growing market volatility and the potential for strong price movements. The pattern consists of higher highs and a horizontal support, forming an expanding wedge shape.
A breach below this pattern could result in a sharp price decline…
