Solana
Why Solana is down 2.0% today
Analysis
Solana (SOL) fell about 2% over the past 24 hours as sentiment weakened amid reports that Solana-focused treasury firm Upexi posted a $179 million loss tied to the recent SOL price slide, highlighting downside risk for SOL-linked balance sheets. Traders also appeared to react to bearish technical coverage pointing to a potential head-and-shoulders setup and lower downside targets, which can add near-term selling pressure.
Contributing Factors (3)
Solana DAT Upexi posts $179 million loss as SOL price slide hits treasury despite revenue doubling
Upexi said digital asset operations, mainly staking income, now account for the majority of company revenue.
Citi builds on Solana: Will SOL become the ‘internet capital market’?
Despite it all, SOL price is in freefall.
Solana Price Prediction: SOL Faces $42 Target as Head-and-Shoulders Pattern Emerges
Solana Risks Drop to $42 as Head-and-Shoulders Pattern Forms The post Solana Price Prediction: SOL Faces $42 Target as Head-and-Shoulders Pattern Emerges appeared first on Cryptonews.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.