Solana, a layer-1 cryptocurrency, has been experiencing a prolonged sideways trading pattern for over seven months. This stagnation during the predominantly bullish fourth quarter suggests potential underlying weaknesses among SOL buyers.
The ongoing consolidation has sparked debates over whether Solana could experience a price decline to the $50 range. Such a drop would signal renewed bearish momentum, despite the generally positive market sentiments expected during this period.
This article explores the possible implications and market reactions if Solana's price hits the $50 level, considering current trading trends and historical data.
