Why It’s Time To Start Paying Attention To Solana Before It Stages A Repeat Of 2024
Summary
Solana is being watched closely after printing 8 consecutive red monthly candles, a first in its history. A bullish interpretation compares this setup to the 2021 bear cycle, when SOL suffered a steep drawdown, formed 9 red monthly candles, and later recovered from about $8 to a new all-time high near $295. The current decline has taken SOL from roughly $253 to $67, and a 9th red monthly candle is now forming. If the pattern matches the prior cycle, the $80–$50 area could become a major accumulation zone, with a possible long-term rally toward $500–$1,000. Another analyst expects a near-term retest of $67–$58 before a rebound toward $120–$175 this year. SOL is trading near $70, down more than 5% in 24 hours.
