Solana just did something it has never done since its launch: post eight consecutive red monthly candles. The token slid from roughly $253 to $67 over that stretch, and the ninth monthly candle is already forming. During the last bear market Solana fell from $260 to $8, but those nine red candles were never consecutive — the ninth one marked the actual cycle bottom.
History repeating or just a longer bleed?
The current drawdown is almost as deep in percentage terms, but the pattern looks different. Eight straight losing months is a new record for Solana. Analyst Crypto Patel pointed to the $50–$80 range as a possible macro accumulation zone if history repeats — that's the band where the prior bear market bottom sat relative to the top.
What the charts are saying now
Elliott Waves Academy flagged an ending diagonal pattern on the 4-hour timeframe. In plain English, that pattern often signals the end of a downward move. If Solana can break out cleanly above the wave peak, the corrective bounce could hit specific ratio targets based on the preceding wave length. The market is watching whether the ninth candle shows a wick or closes green for the first time in months.
None of this guarantees a bottom. The token is still down roughly 74% from its peak, and the wider crypto market isn't exactly throwing a party. But for a coin that's set a grim new record, the next few weeks matter more than the last eight months.
