Peter Brandt Flags Solana (SOL) 14-Week Range, Warns of 50% Crash Risk
Veteran trader Peter Brandt says Solana (SOL) bulls face a major downside risk. On the weekly chart, he points to a 14-week rectangle and argues that a breakdown could confirm a large bearish head-and-shoulders top.
If the pattern resolves as a continuation with a downside breakout, Brandt’s cited target is $43.70, which would imply roughly a 50% correction from current levels. Brandt stresses he is outlining possibilities rather than making a firm prediction.
He links the current setup to SOL’s prior selloff: a move from a local high near $260 in October to lows around $130 by early December, then a failed relief rally into ~$150. Later, a market-wide capitulation drove SOL through the $100 psychological level, with a bottom near $70 in February. Since then, SOL has been trading inside the described 14-week range—support in the low-$70s and resistance just below $100.
At the time of reporting, SOL was changing hands around $86.97. Traders may watch whether SOL holds the rectangle’s base; failure could accelerate bearish momentum toward the $43.70 target.
Bearish
Brandt’s thesis is structurally bearish: a 14-week rectangle that fails can act like a continuation breakdown, aligning with a potential large head-and-shoulders top. The cited move to $43.70 (≈50% correction) would likely occur via stop-runs if SOL loses the range floor (low-$70s).
In past range-break dynamics across major alts, traders often shift from “range trading” to “trend following” immediately after support breaks, which can amplify volatility. Short-term, the market may tighten around the rectangle’s base and near $90/$100 resistance as confirmations or rejections trigger leveraged positioning. Long-term, repeated failures to reclaim the upper boundary (just below $100) typically weaken risk appetite for SOL until a new accumulation zone forms.
Because Brandt frames this as possibilities, not certainty, the impact is bearish but not guaranteed; however, the clear levels ($70s support, < $100 resistance, $43.70 downside target) make it actionable for traders and likely to influence near-term positioning.