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Solana chart 'bull flag' eyes $250 despite SOL price down 40% since last week

CryptocurrencySep 19, 2021 03:20PM ET
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Solana chart 'bull flag' eyes $250 despite SOL price down 40% since last week

Solana (SOL) price extended its slide on Sept. 17 as a major network outage over the past week — pointing to heightened security risks — hit traders' confidence.

The SOL/USD exchange rate fell up to 13.27% to its intraday low of $133.53 in a corrective trend that began after it topped out near $221.38 on Sept 9. As a result, SOL's price has crashed by almost 40% since its all-time high last week, despite more than tripling its value in the past 30 days.

SOL/USD 4-hour price chart featuring bull flag pattern. Source: TradingView

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Solana chart 'bull flag' eyes $250 despite SOL price down 40% since last week
 

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