Is Solana headed to $50? These three charts show a textbook bear pattern

SOL’s price has validated a classic head-and-shoulders pattern on multiple time frames, with a price target of around $50.

Solana’s SOL (SOL) has dropped 38% over the last 30 days, falling to a two-year low of $67 on Friday. Multiple analysts believe that the downside is not over for the seventh-placed cryptocurrency, with downward targets extending as low as $30.

Key takeaways:

Solana’s head-and-shoulders pattern targets a SOL price of $50 or lower.

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