SOL could fall below $50, analysts say

Solana (SOL) could fall below $50 after forming a bearish head and shoulders pattern, according to an analysis from Cointelegraph citing multiple experts. The report noted that SOL has already dropped more than 72% from its peak in January of last year. This decline confirmed a downward break from the classic bearish pattern, signaling a potential drop below the $50 mark. The analysis further explained that the SOL/USD monthly chart has been forming this pattern over the past two years and could potentially fall as low as $30 without a clear support level.