{"id":429086,"date":"2022-04-09T17:26:00","date_gmt":"2022-04-09T14:26:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/solana-risks-35-price-crash-with-sol-price-chart-megaphone-pattern\/"},"modified":"2022-04-09T17:26:00","modified_gmt":"2022-04-09T14:26:00","slug":"solana-risks-35-price-crash-with-sol-price-chart-megaphone-pattern","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/solana-risks-35-price-crash-with-sol-price-chart-megaphone-pattern\/","title":{"rendered":"# Solana risks 35% price crash with SOL price chart &#8216;megaphone&#8217; pattern"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2893f003933\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2893f003933\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/solana-risks-35-price-crash-with-sol-price-chart-megaphone-pattern\/#%E2%80%9D_Solana_risks_35_price_crash_with_SOL_price_chart_%E2%80%98megaphone_pattern_%E2%80%9C\" >&#8221; Solana risks 35% price crash with SOL price chart &#8216;megaphone&#8217; pattern &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/solana-risks-35-price-crash-with-sol-price-chart-megaphone-pattern\/#SOL_price_%E2%80%9Cmegaphone%E2%80%9D_pattern\" >SOL price &#8220;megaphone&#8221; pattern<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/solana-risks-35-price-crash-with-sol-price-chart-megaphone-pattern\/#Could_SOL_crash_further\" >Could SOL crash further?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/solana-risks-35-price-crash-with-sol-price-chart-megaphone-pattern\/#A_pullback_scenario\" >A pullback scenario<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Solana_risks_35_price_crash_with_SOL_price_chart_%E2%80%98megaphone_pattern_%E2%80%9C\"><\/span>&#8221; Solana risks 35% price crash with SOL price chart &#8216;megaphone&#8217; pattern &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Solana (SOL) risks crashing 35% in the coming days as it comes closer to painting a so-called &#8220;megaphone&#8221; pattern.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"SOL_price_%E2%80%9Cmegaphone%E2%80%9D_pattern\"><\/span>SOL price &#8220;megaphone&#8221; pattern<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In detail, megaphone setups consist of a minimum of lower lows and two higher highs and form during a period of high market volatility. But <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly, these patterns consist of five consecutive swings, with the final one typically acting as a breakout signal.<\/p>\n<p>SOL has been sketching a similar pattern since the beginning of 2022, with the coin undergoing a pullback after testing the megaphone&#8217;s upper trendline near $140 as resistance \u2014 the fourth wing.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/81cabf64-0d81-417d-8e20-21b71c3518c5.png\"><\/figure>\n<p>As a result of the pattern, the Solana token could extend its decline to test the megaphone&#8217;s lower trendline as support near $65, about 35% below today&#8217;s price.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Could_SOL_crash_further\"><\/span>Could SOL crash further?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If this scenario plays out, SOL could crash further after forming the fifth swing on its prevailing megaphone structure. While finding a perfect downside target in case of a breakout is tricky, traders typically select it by measuring the distance between the two trendlines from the point the lower one breaks and book profits when the price reaches 50-60% of that distance.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/7e73ad5c-4452-4d1c-99df-6a2eb7e50dc5.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>SOL\/USD weekly price chart featuring &#8216;megaphone&#8217; breakout scenario. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>A bearish breakout risks putting SOL&#8217;s price en route to nearly $40 in the coming weeks.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_pullback_scenario\"><\/span>A pullback scenario<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On the other hand, SOL&#8217;s bearish megaphone setup could fall short of achieving its breakout target as its price holds above a flurry of concrete support levels.<\/p>\n<p>These levels include SOL&#8217;s 50-week exponential moving average (50-week EMA; the red wave) and an upward sloping trendline (the black line) that have served as accumulation zones for traders, as shown in the chart below. <\/p>\n<p>As a result, an early pullback from 50-week EMA could invalidate the megaphone scenario.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/881b440e-947d-427e-b89f-a0afb6b2de22.png\"><figcaption style=\"text-align: center;\"><em>SOL\/USD weekly price chart featuring 50-week EMA and rising trendline support. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Suppose the price falls below the 50-week EMA, only to seek a bounce from rising trendline support. In that case, it could confirm the presence of a &#8220;rising wedge&#8221; or &#8220;bear flag&#8221; setup in conjugation with the megaphone pattern&#8217;s upper trendline \u2014 again a bearish setup.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/cd1039f1-4ac9-4a43-9c64-98f318f24fa0.png\"><figcaption style=\"text-align: center;\"><em>SOL\/USD weekly price chart featuring bear flag\/rising wedge scenario. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>The rising wedge&#8217;s downside target <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be near $60 after measuring the maximum distance between its upper and lower trendline (about $40) and subtracting it from the potential breakout point near $100.<\/p>\n<p><strong><em>Related:\u00a0Profit taking and Bitcoin consolidation give bears an opportunity to take control<\/em><\/strong><\/p>\n<p>Meanwhile, the bear flag&#8217;s downside target is near $30 after calculating the height of its previous uptrend (about $60) and subtracting it from the potential breakout point near $90.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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SOL price &#8220;megaphone&#8221; pattern In detail, megaphone setups consist of a minimum of lower lows and two higher highs and form during a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":429087,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvY2NjNWRiZWUtYzk3YS00ZjMyLTk4MmUtZDBkOGM5OGFkNGQ4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,79806,81262,74939,75150,75164,92498,78261,73785],"class_list":["post-429086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-analysis","tag-cryptomarket","tag-market-analysis","tag-market-update","tag-price-analysis","tag-solana","tag-tech-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/429086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=429086"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/429086\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/429087"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=429086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=429086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=429086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}