Solana price is on the verge of a 50% decline toward $60 if it breaks down below an ascending triangle pattern and confirms a full bearish reversal. Whales appear to be preparing themselves for this decline as on-chain data reveals that these large addresses are selling SOL.
Solana Price Risks 50% Crash From Triangle Pattern
Solana price trades at $126 today after a 3% decline in 24 hours. This marks the altcoin’s lowest level in two weeks as bearish trends prevail across the broader crypto market due to a massive selloff from traders because of fears of spiking US inflation.
This decline has caused more than $12M in total SOL liquidations, with over 90% of the liquidated positions being from long traders. This scenario has created concerns from traders, with popular analyst Ali Charts sharing a bearish Solana price prediction that it is headed for a crash towards $60.
In his analysis, trader Ali noted that Solana price had formed an ascending triangle pattern. The most crucia
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