Solana Faces Pressure as Head-and-Shoulders Breakdown Projects Decline

Solana began April facing downward pressure following a head-and-shoulders pattern breakdown confirmed on March 27, which indicated a potential move toward $73, approximately 15% below the breakdown point. According to NS3.AI, the exchange net position change decreased from around -2,180,253 SOL between March 17 and March 22 to about -426,004 SOL by March 29, while long-term holders increased their accumulation.