Solana’s Head is Spinning, and It’s Not from the Bull Run

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So, Solana’s (SOL) taking a nosedive, huh? Multi-year lows, analysts slashing targets-it’s like the crypto party’s over, and SOL’s the last one standing with a lampshade on its head. Meanwhile, some geniuses are whispering about a 50% correction. Great. Just what we needed. Another dip. Pass the guacamole, this is getting spicy.

Solana’s Head and Shoulders: Not a Fashion Statement

Wednesday hits, and SOL drops 10% faster than I drop a bad habit. Two-year low at $90. Wow. Really sticking the landing there. Since February 2024, it’s been bouncing like a ping-pong ball between $120 and $250. But hey, who needs stability when you can live life on the edge, right?

Weekend comes, SOL loses its grip on $105. January closes, and it’s like, “See ya, support zone!” Now it’s clinging to $100 like it’s the last slice of pizza. Spoiler alert: it’s not holding on.

Enter Alex Clay, the guy who’s like, “Yeah, SOL’s looking rough.” Thanks, Alex. Real helpful. Apparently, there’s this Head and Shoulders pattern-no, not the shampoo-that’s been forming since early 2024. Left shoulder, head, right shoulder-it’s like SOL’s doing the crypto version of the Macarena. And guess what? It’s confirmed. Party’s over, folks.

SOL's Head and Shoulders pattern

Neckline’s at $105, and SOL’s already below it. If it closes the week under that, it’s official: resistance is futile. First target? $42. That’s a 55% drop. Great. Just when you thought it couldn’t get worse.

SOL’s Chart: A Horror Story Without the Popcorn

Sjuul from AltCryptoGems calls it “panic-inducing.” Thanks, Sjuul. Really needed that. Crypto Tony’s like, “$50 is the next stop.” Sherpa chimes in with “$75 or lower.” Everyone’s got an opinion, and none of them are good. It’s like a bad family reunion, but with charts.

Oh, and Standard Chartered? They cut their near-term target to $250. But hey, by 2030, SOL’s hitting $2,000. Sure. Because who doesn’t love a good long-term fantasy? In the meantime, it’s trading at $93.28. Down 27.9% this week. Yippee.

SOL's price chart

So, there you have it. Solana’s in the crypto equivalent of a midlife crisis. Buckle up, because this ride’s about to get bumpier than a Larry David stand-up special.

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2026-02-05 14:46