Solana's price is at a critical juncture, with the cryptocurrency hovering just above its key rising channel's lower trendline. This pattern has previously preceded significant price movements, including a 54% crash in January. If Solana falls below $81.24, it could potentially trigger a 50% price drop, similar to the January plunge.
The decline of buying volume and slowing accumulation by long-term holders are warning signs that Solana's support is weakening. Short-term holders are also showing signs of low conviction, increasing the risk of a sell-off. A daily close above $87.45 could revive bullish momentum and alleviate concerns about a potential price crash.