One Pattern That Predicted the 21% Solana Price Drop Has Returned
Solana (SOL) price is rebuilding the same chart pattern that pulled it down about 21% earlier this year, and it has resurfaced right at $74. This time, the structure looks weaker and less symmetrical, yet on-chain data carries a warning that the spring version never did. The next
Solana (SOL) price is rebuilding the same chart pattern that pulled it down about 21% earlier this year, and it has resurfaced right at $74. This time, the structure looks weaker and less symmetrical, yet on-chain data carries a warning that the spring version never did. The next few sessions will decide whether buyers can break the sequence.
Solana’s Double Top Returns on Fading Volume Solana price is tracing a double top. It is a bearish pattern where price hits a similar high twice and stalls, with the dip between the two peaks acting as the neckline. The two peaks formed around July 15 and July 22, with the neckline dip near July 17.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. The setup is building around falling buy volume, which typically supports a bearish read.
This is because fewer buyers are defending each push higher. That echoes the spring double top, which formed between mid-March and May 11 on similarly fading volume and led to a drop of about 21%. Solana Double Top Structure: TradingView From an exploratory view, the neckline sits near $73, and a clean break would project a slide of roughly 7% toward the $67 area.
The risk stays alive while Solana’s price action holds below the $79 zone. Below $79, the risk of additional tops remains intact. The exchange net position change, a metric that tracks tokens moving in and out of exchanges, helps test how closely this repeats the spring move.
During that earlier top, the reading ran deeply negative, near 8 million SOL in mid-March before easing to about 5.4 million by May 11. Solana Exchange Net Position Change: Glassnode The current top has formed on far lighter flows, from roughly 0.
2 million SOL in mid-July to about 0.9 million by July 22. The much smaller readings suggest weaker distribution pressure this time, which may explain why the pattern looks less symmetrical.
Solana Exchange Net Position Change Current: Glassnode That lighter selling or r
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