Solana's Eight Red Months: A Potential Turning Point Ahead

Solana (SOL) has reached an unprecedented milestone, eight consecutive red monthly candles. This streak, which began in October and continued through May, marks a significant low point for the token. SOL's price has plummeted from around $253 to near $67, with many analysts predicting a potential rebound.

The longest losing streak since Solana's launch is causing concern among investors, but some experts are cautiously optimistic about a possible accumulation range between $50 and $80. This zone echoes the 2021 cycle, where SOL declined from its peak near $260 to around $8 before rebounding strongly.

Crypto Patel, an analyst, noted that while it's early to call a turn, the current pattern bears resemblance to the 2021 cycle. He predicted a potential move towards $500 to $1,000 in the next expansion if the fractal repeats.