Fun

Solana Cracks Below Key Structure – Head And Shoulders Breakdown Points To $106

News Feed - 2025-06-22 05:06:16

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.


Solana has broken down decisively, losing a critical support level following news that the United States launched an attack on Iranian nuclear facilities. The unexpected geopolitical development triggered widespread panic across financial markets, with altcoins taking the hardest hit. Solana, in particular, has seen significant selling pressure, dropping 20% from its May high of approximately $185 and now trading near $148. Related Reading Ethereum Charts Signal Potential Bottom – All Eyes On Next Move 1 day ago


This breakdown confirms investor concerns that SOL’s uptrend has weakened. Top analyst Carl Runefelt noted that Solana has completed a Head and Shoulders pattern—a bearish technical structure often signaling deeper downside. The price has broken below the neckline of this pattern, confirming the potential for continued declines in the short term.


Adding to the bearish outlook is Solana’s inability to reclaim its prior support levels during brief bounces. With momentum indicators turning negative and broader market sentiment rattled, the likelihood of a swift recovery appears slim unless macro conditions stabilize. Solana Faces Deeper Correction As Bearish Pattern Unfolds


Solana’s bullish momentum from late 2024 has all but faded, replaced by stagnation and sharp corrections as market conditions worsen. Now trading more than 50% below its all-time high, SOL continues to struggle under the weight of global macroeconomic uncertainty and rising geopolitical tensions. The US military strike on Iranian nuclear facilities has only added to the volatility, sending shockwaves through both traditional and crypto markets.


While Solana was one of the strongest performers during the previous cycle, its price action has turned decisively bearish in recent weeks. Bulls have failed to maintain critical support levels, and the asset has now broken below its short-term trend structures. According to Runefelt, Solana has completed a Head and Shoulders pattern, a classic technical signal that often precedes a prolonged downtrend. The pattern’s neckline has been breached, and the projected bearish target now stands around $106.30—a level not seen since February. Solana has broken out of this Head and Shoulders pattern | Source: Carl Runefelt on X


The breakdown also reflects broader weakness in the altcoin market. Despite earlier hopes for an altseason, capital has rotated out of risk assets, favoring Bitcoin and stablecoins amid uncertainty. Solana’s inability to reclaim prior highs or establish higher lows points to a market in retreat. Momentum indicators continue to flash red, and unless bulls reclaim lost ground quickly, SOL could be facing an extended period of consolidation or further losses. Related Reading Tron Energy Usage Surges 108% – Smart Contract Activity Accelerates 1 day ago SOL Price Analysis: Breaking Below Key Support


Solana is under pressure as it breaks below the critical 200-day simple moving average (SMA) around $149.54, a level that had previously acted as dynamic support. This breakdown signals growing bearish sentiment as price action confirms a loss of momentum following weeks of consolidation below the $155–$160 resistance zone. As of now, SOL is trading at approximately $135.99, down nearly 3% on the day and over 20% from its May highs. SOL is struggling to hold support | Source: SOLUSDT chart on TradingView


The chart shows a rejection near the 100-day SMA (green line), and the sustained move below both the 200-day and 50-day SMAs (blue line) points to a shifting structure, leaning heavily toward the downside. Volume remains elevated on red candles, confirming that the breakdown is supported by increasing sell pressure rather than a low-liquidity move. Related Reading Ethereum Prepares For A Decisive Move: ETH/BTC Setup Could Trigger Altseason 2 days ago


If the current trend continues, Solana could revisit the $120–$125 range, which previously served as strong support in early Q1 2025. The broader context of macroeconomic volatility and geopolitical tension, particularly the recent U.S. attack on Iran, adds to investor unease across risk assets, including altcoins like Solana. A daily close back above $149 would be needed to neutralize the short-term bearish structure and shift sentiment. Until then, downside risks dominate.


Featured image from Dall-E, chart from TradingView

News Feed

India earmarks $1.25B to boost growth of AI
Arijit Sarkar12 hours agoIndia earmarks $1.25B to boost growth of AIThrough the IndiaAI Mission, India aims to democratize access to computing power and support nationwide AI development.1565 Total views8 Total sharesLis
De-Dollarization Escalates Amid US ‘Economic Warfare’ and ‘Error-Fraught’ Policies, Economist Says
De-Dollarization Escalates Amid US "Economic Warfare" and "Error-Fraught" Policies, Economist Says Economist Peter C. Earle says de-dollarization has begun, emphasizing that “
Indian Prime Minister Modi’s Twitter Account Hacked, Bitcoin Donations Requested
Indian Prime Minister Modi"s Twitter Account Hacked, Bitcoin Donations RequestedThe verified Twitter account for Indian Prime Minister Narendra Modi’s personal website and mob
Levels of consumer trust in crypto increasing: Report
Savannah Fortis9 hours agoLevels of consumer trust in crypto increasing: ReportConsumer trust in cryptocurrencies, notably Bitcoin, sees an uptick according to a recent Deutsche Bank survey, signaling evolving sentiments
Axie Infinity’s Monthly Player Count Drops to Low Not Seen Since November 2020
Axie Infinity"s Monthly Player Count Drops to Low Not Seen Since November 2020 After recording $4.26 billion in total non-fungible token (NFT) sales, the play-to-earn game Axie Inf
Bitcoin retail interest returns, pushing BTC spot trading volume to 12-month high
Zoltan Vardai8 hours agoBitcoin retail interest returns, pushing BTC spot trading volume to 12-month highAlong with the growing retail interest, Bitcoin transfers to Coinbase have also started to surge. Are investors pre
Crypto Biz: Bitcoin’s institutional flow looms, Coinbase’s debt round, and more
Ana Paula Pereira3 hours agoCrypto Biz: Bitcoin’s institutional flow looms, Coinbase’s debt round, and moreThis week’s Crypto Biz covers the buzz surrounding Bitcoin, the outlook for Ether ETFs, Ubisoft as an XPLA
Bitcoin’s Ordinal Inscriptions Surpass 500,000 Mark as Miners Earn $2.66 Million in Added Fees
Bitcoin"s Ordinal Inscriptions Surpass 500,000 Mark as Miners Earn $2.66 Million in Added Fees According to statistics, there are now more than 500,000 Ordinal inscriptions on the
Gareth Jenkinson40 minutes agoBitcoin Amsterdam highlights hurdles for consensus over improvement proposalsThe ongoing development of the Bitcoin protocol has long been a point of contention for the ecosystem, as was evi
FBI Works With Europol to Arrest Ransomware Gang, $1.3 Million in Cryptocurrencies Seized
FBI Works With Europol to Arrest Ransomware Gang, $1.3 Million in Cryptocurrencies Seized A coordinated strike involving Europol, Interpol, and the U.S. Federal Bureau of Investiga
Tanzanian Fintech Raises $10 Million, Plans to Enter 12 More African Countries
Tanzanian Fintech Raises $10 Million, Plans to Enter 12 More African Countries A Tanzanian fintech startup revealed it has raised $10 million in its latest funding round and is pla
Brian Quarmby3 hours agoX ‘everything app’ push continues as Elon Musk tests video game streamingDuring his stream, Elon Musk said that X has plans to integrate streaming services with Xbox and PS5 but has no plans o