Market Update: SOLANA and Market Downtrend Alert
While Bitcoin remains cautious, Solana ($SOL) is making its direction clear. The chart shows a strong bearish trend, with a well-defined descending trendline and consistent lower highs.
This week’s candle has dropped below last week’s open and is nearing session lows, forming an extremely bearish pattern. If $SOL closes tomorrow around $163 or lower, it could signal a crash as significant as July 29.
It’s not just Solana—other major assets like Ethereum, Toncoin, and Binance Coin are also displaying strong downward signals, suggesting a broader market downturn. Historically, these coins have mirrored each other’s moves, so if one tumbles, others might follow.
Could this change? The market has previously rallied when indicators turned positive, but with everything pointing down now, it’s wise to prepare for potential downside rather than relying on hope.
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