The situation in the Solana market is raising concerns among analysts due to a bearish pattern that may signal further price declines.
Bearish Pattern and Its Significance
A bearish double top pattern has emerged on Solana's charts, prompting speculation about potential price declines. Sanction reports indicate possible breaches of support levels, yet no official statements have been made by Solana's leadership.
Market and Active Measures
Key figures from Solana, including Anatoly Yakovenko and Raj Gokal, have not commented on the current market situation. Analysts observed 11,445 SOL transfers, reflecting cautious sentiment amidst changes in liquid staking. The broader market is closely monitoring support levels and whale activities.
Analysts' Predictions
Analysts suggest that if Solana fails to hold above key support levels at $140 and $148, this could signal potential downside acceleration. Historical precedents indicate that similar patterns often lead to corrective phases across Layer 1 assets.
As trends evolve, it is essential to monitor whale transactions and support levels, as the lack of official communication from Solana's leadership creates uncertainty in the market.
