Date: Fri, Oct 17, 2025 | 09:20 AM GMT
The cryptocurrency market is facing another turbulent day as both Bitcoin (BTC) and Ethereum (ETH) saw a 24-hour decline of over 5%, sparking widespread weakness across the broader market. In the past 24 hours alone, total liquidations have crossed the $1.20 billion mark, with a staggering $943 million wiped out from long positions.
Following this trend, major altcoins have also come under pressure — including Solana (SOL), which has slipped by 8% today. But despite the bearish sentiment, SOL’s chart is quietly revealing a potential bullish setup, suggesting a rebound might be on the horizon.
Bearish Gartley Pattern in Play?
On the 4-hour chart, SOL appears to be forming a Bearish Gartley harmonic pattern — a well-known formation that, despite its “bearish” name, often signals an upward reversal in its CD leg.
The structure began at Point X near $239.79, followed by a sharp drop to Point A, then a rebound toward Point B, before extending lower again — pushing SOL today into the $175 region, where the next potential pivot point C could be forming.
If buyers manage to hold this area, it could confirm the C point, setting up the stage for a bullish CD leg — the phase that often leads to a short-term recovery in harmonic setups.
What’s Next for SOL?
If the $175 (C) support zone holds firm, SOL could see a reversal toward the 50-period moving average near $197.62, which would strengthen the bullish case. A successful bounce from there might open the path toward $223.50–$239.79, aligning with the 0.786 and 1.0 Fibonacci extension levels — a move that would represent a potential 34% upside from current prices.
However, a failure to defend $175 could delay the confirmation of C, allowing sellers to regain control and potentially push SOL to new local lows before any rebound attempt.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
