Solana price just one breakdown away from a 40% slide in June — here's why

Cointelegraph

Published Jun 10, 2022 06:52AM ET

Updated Jun 11, 2022 09:00AM ET

Solana (SOL) is nearing a decisive breakdown moment as it inches towards the apex of its prevailing "descending triangle" pattern.

Notably, SOL's price has been consolidating inside a range defined by a falling trendline resistance and horizontal trendline support, which appears like a descending triangle—a trend continuation pattern.

SOL/USD daily price chart featuring "descending triangle" breakdown setup. Source: TradingView
SOL/USD daily price chart featuring descending triangle reversal setup. Source: TradingView
Solana TVL performance history. Source: Defi Llama

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