Veteran commodity trader Peter Brandt, who frequently riles up the cryptocurrency community with his controversial takes, has now taken aim at Solana (SOL).
According to the prominent chartist, the altcoin has formed an ominously bearish pattern that could result in an extremely painful 50% correction from the current levels.
With that being said, Brandt has stressed that he merely presents possibilities instead of making predictions.
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A 14-week rectangle
According to Brandt, Solana has now formed a 14-week rectangle that could spell trouble for the bulls.
If this horizontal channel happens to resolve as a continuation pattern with a downside breakout, it will validate a massive head and shoulders (H&S) top.
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We present possibilities
The weekly chart of $SOL now presents a 14-week rectangle
If it is a continuation rectangle with downside BO, then the 43.70 target from the massive H&S top will be confirmed pic.twitter.com/bT8rhhtLeC
The downside target for Solanas would be $43.70 if the aforementioned bearish pattern ends up playing out.
Solana's underwhelming price performance
Solana reached its local high near the $260 mark in October. Since then, it has experienced an extremely severe bearish breakdown.
The token broke through multiple support levels to bottom out near $130 by early December. Through December and early January 2026, the token attempted to pull off an unlikely relief rally that peaked near the $150 level. However, SOL failed to sustain upward momentum. Then, in February, SOL experienced a painful capitulation in tandem with the broader cryptocurrency market.
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SOL crashed the price through the critical $100 psychological support, and the token ended up bottoming out near the $70 mark.
After the February plunge, SOL has been trapped in the aforementioned 14-week rectangle formation that has been described by Brandt.
It has repeatedly bounced off a support floor in the low $70s and faced heavy rejection at a resistance ceiling just below $100.
Solana is changing hands at $86.97, CoinGecko data show.s After a failed attempt to break out above the mid-$90s in early May, the "Ethereum killer" has now settled back into the middle of this dangerous continuation zone.
If Solana fails to hold the baseline support of this 14-week rectangle, Brandt's uber-bearish target could come into play.
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