Over the course of 1.5 years, SOLANA has formed a massive head & shoulders pattern, which is a bearish reversal pattern.
With the overall crypto and stock market outlook deteriorating, it seems a matter of time before SOL will break through the pattern's support and continue the strong bearish trend down.
Personally I'm waiting for SOL to break through the bottom dotted support. As long as this support isn't broken, we can 't confirm the pattern with certainty, so be patient.
I'm looking for an initial drop to $20, potentially even $12.50 if we get some kind of stock market melt-down like we saw in 2008.