Solana is back in the spotlight after a pair of crypto analysts flagged a rare and potentially pivotal technical setup.
Why traders are watching SOL
Crypto analyst Crypto Patel pointed out on X that Solana (SOL) has now printed eight consecutive red monthly candles — the first time this streak has occurred in the token’s history. Patel says this unusual sequence deserves attention because of a historical parallel from the 2021–2022 bear cycle: after topping at an ATH of $260 in November 2021, SOL eventually produced nine monthly red candles (not consecutively) and found its low at around $8 on that ninth red month. That bottom preceded a multi-year recovery that ultimately drove SOL to a new ATH near $295.
How the current setup compares
According to Patel, the present decline looks different — and arguably stronger — than the last cycle. The current run has seen SOL fall from roughly $253 to a recent low near $67 across eight straight red months, with a ninth monthly candle now forming. Patel cautioned that traders must wait for the month to close to confirm patterns, but said history can offer a “map” for what might follow.
What Patel says could happen next
If the pattern mirrors the prior bear-cycle behavior, Patel sees a potential macro accumulation zone in the $80–$50 range should price extend lower. In a bullish fractal repeat, he suggests SOL could eventually target a new all-time high somewhere between $500 and $1,000.
A second analyst expects a retest first
Crypto analyst Jack Adams posted on X that he is “almost certain” Solana will retest the $67–$58 area before reversing higher to roughly $120–$175 later this year. Adams added that, based on SOL/BTC and SOL/ETH chart structures, any further drop would likely be rapid rather than a prolonged bleed. He also pointed to the monthly wick history and prior rejection zones as evidence that a key monthly level is within reach ahead of the next bull cycle.
Market snapshot
At the time of writing, CoinMarketCap lists SOL around $70, down over 5% in the last 24 hours. Solana has been among the more volatile large-cap altcoins as Bitcoin has extended its decline.
Bottom line
Analysts see the eight-month red streak as a potentially important technical inflection that could mark the approach of a macro buy zone — but both caution that confirmation requires the month’s close and that historical fractals are not guarantees. As always, traders should manage risk and do their own research.
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