$SOL has been stuck in a sideways range like the other major coins for some time. It’s still around the selling levels I mentioned, and 51.28 remains the target level. That would mean roughly a 30% decline.
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--Bajista
For-Exx Kripto
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BajistaI pointed out on July 14 that Solana ($SOL ) looked bearish when it was trading at 75.28. It's now around 74.17, so it has barely moved, but the head-and-shoulders pattern continues to play out as expected.
In my view, Solana's biggest structural problem is that it has become the main source of altcoin inflation in the crypto market. Almost anyone can launch a token on the network, and I believe this dilutes both Solana's overall quality and the value of its ecosystem.
There's a saying in economics that "inflation is public enemy number one." In my opinion, Solana has become crypto's public enemy number one in that sense. That's why I think further downside is ultimately unavoidable—it's only buying time.
So I'm not looking at this purely from a technical chart perspective; I'm also evaluating it from a structural and fundamental standpoint.
In my view, Solana's biggest structural problem is that it has become the main source of altcoin inflation in the crypto market. Almost anyone can launch a token on the network, and I believe this dilutes both Solana's overall quality and the value of its ecosystem.
There's a saying in economics that "inflation is public enemy number one." In my opinion, Solana has become crypto's public enemy number one in that sense. That's why I think further downside is ultimately unavoidable—it's only buying time.
So I'm not looking at this purely from a technical chart perspective; I'm also evaluating it from a structural and fundamental standpoint.
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