SOL price drop to $120 looks likely, but there’s a silver lining

A head-and-shoulders pattern sets a $120 target for SOL, but bullish onchain data points to resilient longer-term fundamentals.

Key takeaway:

SOL’s daily chart forecasts a drop to $120, but data shows the level as a strong source of buyer demand.

SOL (SOL) projects a bearish outlook on the daily chart after forming a bearish engulfing, and if the trend holds, SOL price could fall to $120.

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