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Trader Peter Brandt warns Solana could drop 50% after forming bearish chart pattern.

Technical Signals
17 May 2026
UToday
View Source
Bearish
pluang ai news

Veteran trader Peter Brandt has highlighted a bearish chart pattern forming on Solana's weekly price chart, suggesting a potential 50% price correction. Solana has been stuck in a 14-week rectangle pattern, bouncing between support near $70 and resistance below $100. If the price breaks below this support, it could confirm a massive head and shoulders top pattern, targeting a drop to around $43.70. This warning comes after Solana's price fell sharply from a $260 high in October 2025 to under $90 in May 2026, showing weak recovery attempts and market weakness.

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