Solana Price May Plummet to $22 Amid Bearish Trends

Solana's price is showing signs of a potential drop similar to the collapse of Terra (LUNA) in 2022. A crypto analyst named PizzaDriver on TradingView has forecasted a decline to $22.

Key Points

Technical analysis indicates a Double Top pattern, signaling a bearish trend.
The Relative Strength Index (RSI) shows bearish divergence, reflecting weakening momentum.
If Solana fails to maintain key support levels, a liquidity crisis may occur, pushing the price down to $22.
Institutional investors have sold holdings and moved funds into safer assets like Ethereum and Binance Coin.
Concerns include increasing rug pulls, high transaction fees, and dissatisfaction among investors.

These factors contribute to growing risks for Solana, which may lose its competitive edge unless fundamental issues are addressed.