Solana (SOL) price is poised for a potential 95% crash — Here’s why

2022.08.17 07:34

Solana (SOL) price is poised for a potential 95% crash — Here’s why

Solana (SOL) price rallied by approximately 75% two months after bottoming out locally near $25.75, but the token’s splendid upside move is at risk of a complete wipeout due to an ominous bearish technical indicator.

Dubbed a “head-and-shoulders (H&S),” the pattern appears when the price forms three consecutive peaks atop a common resistance level (called the neckline). Notably, the middle peak (head) comes to be higher than the other two shoulders, which are of almost equal height.

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