Solana price slowly forms a risky pattern, signaling a crash to $100

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Solana price has stalled this week after its recent recovery hit a strong resistance level at $146.9.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Solana, the sixth-biggest player in the crypto industry, was trading at $140 on Thursday, down by over 50% from its highest point this year. The recent rally ended after Donald Trump surprised markets by announcing sweeping tariffs targeting the automobile sector. These tariffs have triggered concern among market participants due to their scale and potential economic impact. Some analysts caution that his upcoming Liberation Day tariffs will lead to a recession in the US. This explains why Bitcoin, altcoins, and the stock market dropped on Thursday.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

The daily chart shows SOL is still at risk of a deeper bearish breakdown. On February 25, the token formed a death cross pattern, when the 50-day and 200-day moving averages crossed, a widely watched bearish signal. More recently, SOL has formed a bearish flag pattern, consisting of a steep vertical drop followed by a consolidation phase. It has been forming the flag section for the past two weeks.