Solana Faces Bearish Outlook Amid Strong Onchain Indicators

According to Cointelegraph, Solana (SOL) is currently experiencing a bearish trend on its daily chart, with projections indicating a potential drop to $120. The formation of a bearish engulfing pattern suggests that if the trend persists, SOL's price could indeed fall to this level. The 1-day time frame reveals a head-and-shoulders pattern, a classic bearish reversal signal. A breakdown below the $140 neckline, confirmed by a volume spike, could lead to further bearish continuation source: https://www.binance.com/en/square/post/25923798081705?utm_source=BinanceNewsRSS