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Ominous Solana technicals hint at SOL price crashing 35% by September

Published 08/13/2022, 10:01 AM
Updated 08/14/2022, 12:00 PM
Ominous Solana technicals hint at SOL price crashing 35% by September
SOL/USD
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Solana (SOL) risks a significant price correction in the coming weeks owing to a classic bearish reversal setup.

On the three-day chart, SOL's price has been painting a rising wedge, confirmed by two ascending, converging trendlines and falling trading volumes in parallel.

SOL/USD three-day price chart. Source: TradingView
SOL/USD daily price chart. Source: TradingView
Solana network usage. Source: Messari/Solscan

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