Ominous Solana technicals hint at SOL price crashing 35% by September

Cointelegraph

Published Aug 13, 2022 10:01AM ET

Updated Aug 14, 2022 12:00PM ET

Solana (SOL) risks a significant price correction in the coming weeks owing to a classic bearish reversal setup.

On the three-day chart, SOL's price has been painting a rising wedge, confirmed by two ascending, converging trendlines and falling trading volumes in parallel.

SOL/USD three-day price chart. Source: TradingView
SOL/USD daily price chart. Source: TradingView
Solana network usage. Source: Messari/Solscan

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