Solana Dives Below Critical Support, Head and Shoulders Pattern Indicates $106 Target

Solana has decisively broken down, losing a crucial support level after news emerged of a U.S. attack on Iranian nuclear sites. This sudden geopolitical event triggered widespread fear across financial markets, hitting altcoins especially hard. SOL experienced a sharp decline from its May peak near $185, falling about 20% to around $148. This technical breakdown, notably the formation of a Head and Shoulders pattern confirmed by falling below its neckline, signals further downside potential, with a possible target near $106. The token's inability to rebound above key moving averages and weak momentum indicators suggest a bearish trend may persist unless macro conditions improve. Overall, SOL's recent price behavior reflects increased volatility and a risk-off environment affecting the broader crypto market.