Solana Price Faces New Risk Despite Growing On-Chain Adoption

Solana traded near $106 after a roughly 15% pullback from its late-September high, and its daily chart showed a possible head-and-shoulders reversal pattern that could target $80 if confirmed by a close below the neckline support near $100. The pattern’s left shoulder formed near $111 in late August and its head near $125 in late September after sellers rejected $120, with a possible right shoulder near $115. US spot SOL ETF flows averaged about minus 40,000 SOL per day, or roughly $4.2 million, while tokenized real-world assets on Solana excluding stablecoins totaled about $4.4 billion and 1.4 million addresses held tokenized stocks. An Alpenglow upgrade due Oct. 21 was expected by developers to cut transaction finality to 150 milliseconds.