From Cointelegraph

June 21, 2025 12:30 PM:

Solana’s price outlook is bearish, with a potential fall to $120 after forming a bearish engulfing pattern on the daily chart. A head-and-shoulders pattern on the 1-day time frame signals a bearish reversal, with a breakdown below $140 possibly leading to further decline. The daily demand zone is between $95 and $120.

Onchain data for Solana remains bullish, with the Network Value to Transactions Ratio (NVT) dropping below 10, indicating strong network usage relative to market value. Exchange Net Position Change shows consistent withdrawals from exchanges, suggesting investor confidence and accumulation. Despite price fluctuations, Solana’s underlying strength is evident.

Read more at Cointelegraph: SOL Risks $120 Retest Despite Bullish Onchain Data