Summary
TLDR: Solana’s price is experiencing a potential bearish outcome due to lack of investor support, with a double top formation indicating a possible 17.27% drawdown to $142. If support at $172 holds, price could bounce back to $190. Always do your own research before making financial decisions.
Key Points
1. Solana (SOL) price is witnessing the formation of a potential bearish outcome, which could cause a significant drawdown.
2. The altcoin is not receiving much support from its investors, which could exacerbate the current downtrend.
3. Solana’s price, trading at $174 at the time of writing, is close to falling through the support of $172, which could result in the altcoin validating the double top formation.