Solana's price facing potential drop by 10% due to Descending Broadening Wedge pattern.

In recent market analysis, a descending broadening wedge pattern has been identified for the Solana price, suggesting a potential reversal for the cryptocurrency.

The Solana price has previously encountered resistance at the $200 level on multiple occasions, but it has recently cleared this barrier again. This clearance could be a sign of a bullish trend to come.

Meliketrader, a crypto trader, predicts that if Solana follows this trend, it could first experience a dip before picking up pace. The support zone for Solana in case of a crash is estimated to be at $192-$193.

The current wedge formation for Solana is between two diverging trend lines. One trend line shows a descending pattern, while the other exhibits a sloping down pattern but moves much more slowly. The bears have significant power at the $200 level for the Solana price, but the bulls have strong momentum at the historical demand zone.

If the market continues to trade in the green, the trend for further increases could be established, setting in motion the trend for Solana's price to move upward rapidly once it breaks out of the wedge formation. However, it is worth noting that a 10% decline for the Solana price would occur if it descends to the historical demand zone.

As the rest of the market works toward a recovery, the potential for a continued uptrend for Solana becomes increasingly likely. The editorial process should avoid repeating earlier facts, but it is important to note that the search results do not provide the name of the crypto analyst who conducted the analysis on the possibility of a price crash for Solana.

In conclusion, while there is potential for a short-term dip in the Solana price, the overall trend appears to be bullish. Investors should keep a close eye on the Solana price as it navigates the current wedge formation and moves toward a potential breakout.