SOL’s path of least resistance tilts toward $50 but onchain data hints at a bottom

SOL price looks bearish on multiple chart timeframes, leading analysts to put a short-term target on $50. Will the “extreme” state of SOL’s MVRV indicator prevent another price crash?

Solana’s SOL (SOL) continues to be battered by bearish headwinds since collapsing to $67 on Feb. 6. SOL is more than 72% below its all-time high of $295, and several metrics suggest that the downside may be far from over.

Key takeaways:

Solana’s bearish technical patterns lean toward a $50 price target.

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