- Peter Brandt warns Solana bearish pattern could trigger massive correction soon.
- Solana struggled below $100 resistance after February marketwide cryptocurrency selloff recently.
- CoinGecko data showed SOL trading near $86 amid growing bearish concerns.
Veteran trader Peter Brandt warned that Solana (SOL) may face another severe correction as bearish pressure continues building on the weekly chart. According to Brandt, the cryptocurrency has developed a 14-week rectangle pattern that could eventually trigger a strong downside move.
Brandt stated that the current structure may act as a continuation formation if sellers break support successfully. Additionally, he explained that such a breakdown would confirm a larger head and shoulders top formation. Under that scenario, the projected technical target stands near $43.70.
His latest warning arrived while Solana continues struggling below important resistance zones. Although the token attempted several recoveries during recent months, bullish momentum repeatedly weakened before a stronger breakout could develop. Consequently, market attention has shifted toward whether SOL can maintain its current support structure.
Solana previously rallied near the $260 level during October before entering a prolonged bearish phase. Selling activity later intensified as the wider cryptocurrency market experienced heavy volatility. As a result, SOL lost multiple key support zones within a relatively short period.
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Solana Continues Trading Inside Dangerous Technical Formation
Market data showed Solana falling toward $130 by early December before staging a temporary rebound near the $150 region. However, buyers failed to maintain upward momentum as broader market weakness continued affecting risk assets. Additionally, February brought another major selloff that pushed SOL below the critical $100 psychological support level.
According to Brandt, Solana has remained trapped inside the same rectangle pattern since the February decline. The token repeatedly rebounded from support near the low $70 range while facing strong rejection below the $100 area. That prolonged consolidation has strengthened concerns surrounding a possible continuation breakdown.
Recent trading activity also reflected continued uncertainty surrounding Solana’s short term direction. Earlier this month, the asset attempted another recovery and briefly approached the mid-$90 region. However, sellers regained control before bulls could establish sustained momentum above resistance.
CoinGecko data showed Solana trading near $86 during the latest session. Moreover, the token currently remains positioned near the middle of the rectangle structure highlighted by Brandt. That positioning has increased attention toward whether support levels can continue holding under growing bearish pressure.
According to Brandt, a confirmed breakdown below the rectangle floor could activate the projected decline toward $43.70. Such a move would represent nearly a 50% drop from current price levels.
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