{"id":18787,"date":"2025-12-29T09:50:06","date_gmt":"2025-12-29T09:50:06","guid":{"rendered":"https:\/\/bitunikey.com\/news\/solana-price-risks-breakdown-as-double-top-pattern-forms-and-tvl-drops\/"},"modified":"2025-12-29T09:50:18","modified_gmt":"2025-12-29T09:50:18","slug":"solana-price-risks-breakdown-as-double-top-pattern-forms-and-tvl-drops","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/solana-price-risks-breakdown-as-double-top-pattern-forms-and-tvl-drops\/","title":{"rendered":"Solana price risks breakdown as double top pattern forms and TVL drops"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Solana price is close to confirming a bearish breakout of a double top pattern that signals its downtrend could extend over the coming weeks.<\/p>\n<div id=\"cn-block-summary-block_942516297238b6ba8a9444138577343a\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Solana price is down over 12% this month.<\/li>\n<li>Declining network activity and ETF inflows have reduced investor appeal for the token.<\/li>\n<li>A mult-year double top pattern has formed on the weekly chart.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to data from crypto.news, Solana (SOL) was trading at $127.7, down 12.3% from its monthly high and over 48% below its highest point in September.<\/p>\n<p>The seventh-largest crypto asset could be at risk of further decline as it has formed a giant bearish pattern on the charts, as some of the network\u2019s key on-chain metrics have slumped over the past few months.<\/p>\n<p><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/currencies\/SOL\/futures\" target=\"_blank\" rel=\"nofollow\">Data<\/a> from CoinGlass shows that the total value locked across DeFi protocols built on the blockchain has dropped to $23.8 billion, down from its yearly high of $35.1 billion seen in September. The fees generated by protocols running on Solana also fell from $31 million to $8 million within the same period.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Together, these metrics hint that user activity on the network has weakened, which in turn seems to have reduced investor demand for the token.<\/p>\n<p>Demand for Solana has also been hit by a slowdown in spot Solana ETF inflows. <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/sosovalue.com\/assets\/etf\/us-sol-spot\" target=\"_blank\" rel=\"nofollow\">Data<\/a> compiled by SoSoValue shows that the eight SOL ETFs recorded $199.2 million during the first trading week after launch but have since declined, with only $13.1 million recorded last week. Such a drop in inflows suggests weakening demand among institutional investors, which could subsequently affect retail interest as well.<\/p>\n<h1 class=\"wp-block-heading\">Solana price analysis<\/h1>\n<p>On the weekly chart, Solana has been shaping up a massive double top pattern since mid-2024. Such a formation is characterized by two rounded tops with a trough in between and is often seen as a bearish reversal signal when confirmed by a break below the neckline.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Solana price has formed a double top pattern on the weekly chart \u2014 Dec. 29 | Source: crypto.news<\/figcaption><\/figure>\n<p>At the time of writing, Solana price looked likely to break below the neckline of the pattern at $120. In technical analysis, such a pattern is confirmed when an asset\u2019s price breaks below the neckline and typically leads to more downside, especially when momentum indicators are also signaling weakness.<\/p>\n<p>Momentum indicators like the MACD and RSI were trending downwards at press time, showing that bears were dominant in the market.<\/p>\n<p>Hence, Solana price risks a drop to its April 7 low of $95 next if it fails to hold $120 as support. The level has served as a crucial floor for the greater part of this year.\u00a0<\/p>\n<p>On the contrary, a sharp rebound above $155, which aligns with the 50% Fibonacci retracement level, could invalidate the bearish setup and trigger a potential recovery.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Solana price is close to confirming a bearish breakout of a double top pattern that signals its downtrend could extend over the coming weeks. Summary Solana price is down over&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3089,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-18787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/18787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=18787"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/18787\/revisions"}],"predecessor-version":[{"id":18788,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/18787\/revisions\/18788"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/3089"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=18787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=18787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=18787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}