Solana’s Plunge: The Double Top That Will Leave You Gasping for $145

Ah, Solana. Once a beacon of hope in the crypto world, now teetering on the edge of another disastrous plunge. Yes, folks, the dreaded double top pattern is here, and it’s whispering the painful truth: prepare for a crash to $145. How poetic. At the time of this writing, SOL is languishing at a modest $163, but don’t be fooled by its apparent calmness. A storm brews beneath the surface, as the price has been frolicking between a daily low of $161 and a high of $173, dancing on the whims of volatility like a drunken poet in a village tavern. 🍻

And let us not forget the carnage that has already unfolded—more than $30 million in SOL longs have been obliterated in the last 24 hours, leaving behind a trail of liquidation debris. One might say it’s like a field of wrecked dreams. The bearish sentiment? Well, it’s as inevitable as the setting sun. What was once a hopeful prediction of $180 now feels like a distant fantasy. Those who dared to hold onto their hopes are being shaken to their very cores. The open interest hit a four-month high, but alas, it was all in vain.

The long-liquidations and sell-side pressure have combined forces to form the ultimate bear trap. As Solana forms its notorious double top pattern on the four-hour chart, the price is preparing to take a dive, as if it had no other option. It’s a familiar story in technical analysis—when a price can’t breach its previous resistance, it plunges. And so, Solana finds itself standing at the precipice, wondering if it will ever soar again or if this crash will be its final bow. 🥀

In short, brace yourselves for the inevitable: $145 may be just around the corner. But don’t worry, it’s just a technicality. Or is it? 🧐

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2025-05-30 14:10