Solana Reaches Key Bearish Target at $152, Signals Possible Reversal

Analyst Carl Moon’s TradingView chart highlights a textbook double top formation for Solana (SOL), a well-known bearish reversal pattern. The price hit two peaks near $190 before breaking down below strong horizontal support around $165. 

This breakdown validated the pattern and drove SOL down nearly 10%, reaching the forecasted target near $152.76. The surge in trading volume during the breakdown suggests that the bearish momentum may have peaked as SOL approached this crucial support level.

According to Carl Moon, the $152.76 level might not only signal the end of the recent downward trend but could also serve as the beginning of an upward move. He notes that this support zone could act as a “turning point” where the price might consolidate between $152 and $155 before potentially breaking higher. If this support holds firm, buyers could regain strength, pushing SOL back toward the $165–$170 range over the coming days.

This technical analysis emerges amid ongoing market fluctuations, with Solana showing relative strength compared to many other altcoins. Although the double top breakdown challenged short-term bullish sentiment, the solid support around $152 may attract investors seeking bargains. 

Carl Moon’s accurate forecast of the bearish target and his outlook on a possible recovery underscore how key technical levels continue to influence trading decisions, especially in volatile altcoin markets.