Just been looking at Solana's chart and the damage is pretty stark. SOL went from around $247 down to $101.43 - that's roughly 59% wiped out, with the selling pressure pushing into early February. Traders who caught that top are seriously underwater right now.

What's interesting is how the bounces keep failing. Every time price tries to recover, volume spikes suggest capitulation-style selling rather than genuine support. Looking at the weekly heikin ashi setup, you can see the pattern clearly - SOL was trading above $180-200 back in October, then rolled over hard through November and December. The heikin ashi candlesticks really highlight those lower highs forming into January before the latest leg down accelerated into the $100 zone.

The technical picture is split on what happens next. Some traders are watching for a potential double-bottom structure around current levels, while others think we're looking at a deeper retracement within a bigger cup formation spanning years. If this support fails, the next major floor sits around $79. The volume expansion during the selloff tells you there was heavy participation on the downside, and momentum indicators are still pretty weak. Current price is hovering around $80, so we're basically at that critical zone traders have been debating.