The analyst noted that the same pattern appeared to be forming again almost perfectly during this cycle. However, instead of holding the key level as it did in the past cycle, SOL deviated from the historic chart pattern by slipping below it. Against this backdrop, Crypto Tice has projected Solana’s next moves.
At the same time, Crypto Tice has warned that the next candle will be critical in deciding SOL’s short-term direction. He said he is now closely watching price action for any signs of recovery or further weakness.
SOL Continues Heavy Bearish StreakHe called this move historical, noting it’s the first time Solana has faced such a long bearish streak since its launch. During the 2021 cycle, SOL had around nine red monthly candles, but they were not consecutive. Patel added that after the previous bearish phase ended and the price hit a bottom, Solana surged quickly to near its all-time high of $295.
Based on this pattern, Crypto Patel suggested that if history repeats, Solana could see a sharp rebound after the ninth red candle, potentially climbing to the $500 – $1,000 range once it prints a ninth red candle and it hits a bottom.
