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Veteran trader and chart analyst Peter Brandt has issued a stark warning for Solana’s native token SOL, arguing that the token may be on the verge of a major breakdown after forming what he described as an ultra-bearish chart pattern.
According to Brandt, the setup could open the door to a brutal 50% slide from current levels, raising fresh concerns among traders as SOL struggles to maintain bullish momentum.
SOL’s 14-Week Pattern Raises Fresh Downside Concerns
In a recent post on the X social media platform, Peter Brandt noted that the current setup on Solana’s weekly chart is entering a critical stage that traders can no longer ignore. The legendary chartist observed that SOL has now formed a 14-week rectangle pattern, a setup often viewed by traders as a consolidation zone before a major directional move.
Brandt warned that if the rectangle ultimately breaks lower, it could confirm a broader continuation pattern tied to the massive head-and-shoulders (H&S) formation he previously identified on the chart. In that scenario, the bearish target near $43.70 would remain in play, implying a potentially severe correction from current price levels.
He, however, stressed that his analysis is not a direct prediction, but rather an outline of possible market scenarios based on technical structure. Still, Brandt’s analysis has intensified the ongoing debate around Solana’s market structure, particularly as bulls continue to struggle to generate meaningful upward momentum.
 
SOL’s Lackluster Performance
Solana reached its all-time high of $293.31 in January 2025, before entering a sustained downtrend that has since erased a significant portion of its earlier gains. The sharp reversal has marked a clear shift in momentum, with price action weakening across multiple timeframes.
More recently, the so-called Ethereum killer has underperformed the broader crypto market by approximately 12% in 2026, reflecting a noticeable loss of relative strength amid shifting investor sentiment. Commentators point to declining enthusiasm for decentralized applications (DApps) as a possible contributing factor, with reduced on-chain activity signaling a cooling phase across parts of the ecosystem.
SOL is currently trading around $86.64, according to CoinGecko data. After an unsuccessful attempt to break above the mid-$90 range earlier this month, the asset has slipped back into a critical consolidation zone, where recent price action has shown signs of indecision and weakening upward momentum.
If Solana loses its key 14-week rectangle support, the bearish roadmap flagged by Peter Brandt could quickly shift from theory to reality for holders.