Solana Streaks Eight Months in Red, Eyes Possible Accumulation Zone

Solana has closed eight consecutive red monthly candles for the first time in its history. This marks the longest losing streak since the network's launch, with SOL trading near $67 after a significant decline from around $253.

Analysts point to the $50 to $80 zone as a possible accumulation range, echoing the 2021 cycle when Solana plunged from its peak near $260 to a low of around $8.

Crypto Patel highlighted that this pattern resembles the previous bear market and cautioned it's early to call a turn. He suggested that if the fractal repeats, SOL could move toward $500 to $1,000 in the next expansion.