A technical analysis by a crypto trader suggests that Solana's (SOL) price may be due for a significant correction. According to the analysis, if Solana breaks below its current support level of $76.57, it could lead to a 50% decline in price to around $30.
The prediction is based on a bearish pattern identified in the daily chart, which shows that Solana's price has been consolidating within a descending channel since early February. This pattern, known as a Bear Flag, suggests that the cryptocurrency may be heading for a significant drop in price.