Recently, while monitoring the market, many friends have asked about the bottoming opportunity for SOL. To be honest, now is not the time to consider bottoming. From a technical perspective, the monthly chart of SOL shows a classic double top reversal pattern, which is a quite obvious bearish signal.

As an analyst who has been observing the crypto market for many years, I want to break down this pattern for everyone. The double top (M-head) is not formed by any two high points; it has very strict formation requirements: it needs a clear upward trend as a foundation, then two peaks at similar heights at high levels, accompanied by a strong pullback in between, and finally a break below the neckline connecting the two lows, confirming the pattern. The monthly trend of SOL almost perfectly fits these textbook bearish conditions.

I looked at the monthly data from the past three years, and the situation became clearer. When SOL first peaked around $260, the trading volume was decent, indicating that the bulls were still trying to resist. But when it attempted to break through the $260 resistance again, the volume shrank by more than 30%. This shrinking of volume precisely reflects the exhaustion of upward momentum and is a typical signal of a market shift downward.

From this perspective, the current price range is not a bottoming opportunity but a risk warning from the market. Technical patterns often reflect the true trend better than emotional judgment, especially such reversal signals spanning multiple cycles. Historical data tells us that each occurrence corresponds to a significant downward phase.