Chart pattern suggests smart contracts platform SolanaSOLA popular cryptocurrency trader has predicted that ) will drop more than half if the critical support is not maintained.
Ali Martinez tells His 128,800 subscribers on the social network platform X, the Ethereum (ETH( rival) appears to form a pattern of ascending right-angled broadening.
Stockbroking company says that right-angled ascending broadening equilateral wedges are characterized by a lower horizontal trendline, which indicates higher lows, and an upper vertical trendline almost parallel to it. Enrich Money. The traders tend to see them as bearish reverse signals which suggest that an asset’s bullishness has lost momentum.
Martinez says if SOL breaks below $130 it “could open the door for a drop to $65.”
Solana was trading at $135.10 when this article was written. A drop to $65.20 would be a 52% decline. SOL has already dropped more than 9% over the last 24 hours.
Martinez notes Solana is a great investor “appear to be in a state of ‘fear’.”
Trader says The chart pattern suggests that SOL will also be losing value in comparison to Bitcoin.BTC).
“Solana against Bitcoin is starting to resemble Ethereum past price action against BTC. If this pattern holds, SOL could drop to 0.0008 satoshis!”
Martinez remarks that Solana’s network activity You can also find out more about the following: transfer volume Both have plummeted.
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