Solana just did something it's never done before: print eight consecutive red monthly candles. The token slid from a high near $253 to a low around $67 over that stretch, and the current monthly candle is shaping up to be the ninth red one if it closes negative. At writing time, SOL was changing hands near $70, down about 5% in the past day, according to CoinMarketCap.
Eight months in the red
The streak is a first for Solana. During the 2021 bear cycle, SOL cratered from its all-time high of $260 to roughly $8 — but that collapse wasn't straight. It had nine non-consecutive red monthly candles, with the ninth marking the actual bottom. The current run is consecutive, which some traders read as a sign of persistent selling pressure without any meaningful bounces.
What the charts say
Crypto Patel, an analyst tracking the fractal, points out that after the 2021 bottom near $8, SOL rallied to a new all-time high around $295. He sees a similar setup now: the price dropped from $253 to $67, and if the pattern repeats, SOL could eventually run to a fresh all-time high somewhere between $500 and $1,000.
Jack Adams, another analyst, is more near-term bearish. He said he's almost certain Solana will retest $67 to $58 once more before flipping direction. After that retest, he expects a move back into the $120 to $175 range later this year. Adams noted that based on SOL/BTC and ETH charts, the crash should happen fast rather than slow, and the key monthly zone is within reach before the next bull cycle.
The $80 to $50 zone
Patel identified the $80 to $50 area as a potential macro accumulation range if the price extends lower. That zone sits just beneath current levels, meaning buyers could start stepping in if SOL dips further. The $50 floor is about 28% below today's price — a steep drop, but one that the analyst sees as a possible final washout.
The immediate question is whether the fractal holds or gets invalidated. If the ninth candle closes red and marks the bottom like it did in 2021, Solana could be setting up for a multi-year rally. If not, the $50 area becomes the next major line in the sand. Neither analyst is calling for a quick recovery — both expect more pain before any sustained uptrend begins.
