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ALERT: Solana Plunges! Bearish Signals Flash Red for Prices!

Brace Yourself for a Descent! SOL Could Crash to $120! The latest chart patterns for Solana (SOL) are screaming trouble! A bearish engulfing formation has emerged, suggesting that the bears are ready to pounce. Don’t be surprised if SOL spirals down to a jaw-dropping $120!

Head and Shoulders: A Knuckle-Sandwich for Investors!

On the 1-day chart, SOL is serving up a serious warning with a notorious head-and-shoulders pattern – a classic death knell for prices! If it breaks below the crucial $140 neckline, supported by a whopping volume spike, we could witness a monumental collapse!

Eyes on the Prize: Potential Drop to $126! The downside target from this ominous pattern is lurking around $126, where immediate liquidity awaits. But hold on tight! The most terrifying zone of all lies between $95 and $120, poised for a potential test in the upcoming weeks!

Is There Hope? Only if It Closes Above $157!

Don’t count Solana out just yet! If it somehow manages to defy the odds and closes above $157, the bearish curse could be lifted. But with Solana mirroring Bitcoin’s every move, the forecast isn’t rosy. As BTC hovers dangerously close to a monumental $100,000 support level, SOL could be dragged down even further!

Against the Odds: Onchain Data Sparks Tiny Glimmers of Hope!

Hold onto your hats! Despite the doom and gloom, onchain data shows feisty signs of resilience! Reports from Glassnode reveal that the Network Value to Transactions Ratio (NVT) has plunged below 10, marking its lowest point since February 2025! This means solid network usage could keep SOL’s long-term prospects alive, even while the price wallows below $150.

Withdrawals Surge – Is Investor Confidence Brewing?

The Exchange Net Position Change chart is a rollercoaster of excitement! With consistent SOL withdrawals from exchanges, investors might be gearing up for a wild ride! Increased activity is hinting towards an accumulation moment, despite SOL’s recent price dip. A staggering net outflow during late May is showing that REAL investors are still holding the line!

Volatility Couldn’t Stop This Train – Watch Out!

Solana’s price may have seen wild swings from a meteoric high of $295 early this year, but don’t let that fool you! The onchain metrics scream strength, with a stable NVT and surging outflows showing robust network activity! This suggests that behind the scenes, investors could be gearing up for an explosive comeback – overshadowing today’s bearish headlines!

What Will Happen Next? Keep Your Eyes Peeled!