Solana Struggles at $82 as 39% Monthly Decline Tests Critical Support Levels
Solana (SOL) is down 4.7% over the last day, trading at about $82. The cryptocurrency is still going through one of its most difficult times
Quick overview
- Solana (SOL) is currently trading at approximately $82, down 4.7% in the last day and 39% over the past month.
- Technical indicators show a strong downtrend, with SOL consolidating in the $83–$87 range, while analysts warn of potential further losses if support levels fail.
- Institutional outflows and decreased trading volume indicate a lack of trader confidence, with significant withdrawals from Solana-linked ETFs adding to the pressure.
- Despite current challenges, Solana Foundation's president emphasizes a focus on revenue-driven growth and positioning Solana as essential infrastructure for future internet markets.
As of Wednesday, Solana SOL/USD is down 4.7% over the last day, trading at about $82. The cryptocurrency is still going through one of its most difficult times in recent months. Over the past month, the layer-1 blockchain token has dropped 39%, which has many wondering if the present support levels will hold or if more loss is in store.
SOL/USD Technical Setup Reveals Mixed Signals
Solana’s technical picture displays a wide range of intricate markers. The Average Directional Index (ADX) reading of 27.02 indicates that a strong downtrend is still firmly in place, even though the Relative Strength Index (RSI) is at a neutral 52.08, indicating that selling pressure has momentarily paused. Although some analysts point to histogram divergence that suggests possible momentum shifts, the MACD displays a bearish crossover that has not yet reversed.
Right now, Solana is consolidating in the $83–$87 region, which is thought to provide crucial short-term support. SOL has lost its last monthly support between $98 and $100, according to several analysts, and the price structure is still displaying lower highs and lower lows. Bearish control is reinforced by the fact that the cryptocurrency is currently trading considerably below both its 200-day and 50-day moving averages of $166.24 and $123.11, respectively.
But oversold indications are starting to appear. Despite the fact that purchasers have not yet made a firm move, the Money Flow Index’s close to extreme readings indicate that selling pressure may be waning.
Key Price Levels: $98-$108 Target for Bulls, $52 Risk for Bears
Analysts concur that any significant rebound in the future needs to retake the $98–$108 range. If SOL stabilizes above current levels, February projections indicate it may move inside this range, which represents both psychological resistance around $100 and previous support.
A prolonged rise above $108 might lead to a reevaluation of the overall trend. While annual predictions reach $203.12, indicating possible gains of 134% if longer-term recovery patterns emerge, quarterly forecasts point to $142.85, indicating a 64.8% recovery from present prices.
Targets will group around $78–$80, with deeper support close to $70, if the $85 area fails. According to more pessimistic monthly projections, SOL may test $52.30, which would indicate a substantial increase in downside risk should selling pick up speed.
Institutional Outflows Add Complexity
Additional pressure points are revealed by on-chain data. Analysts saw the estimated 72-hour departure of over 1 million SOL from centralized exchanges as stress-driven repositioning less than obvious accumulation. The second-largest net withdrawals ever recorded was from Solana-linked ETFs, totaling over $11.9 million.
Compared to historical averages, trading volume has decreased to $4.07 billion per day, indicating a decrease in trader confidence. Long-term selling pressure from larger holdings is seen in the On-Balance Volume, which is -114.69 billion.
Solana Foundation Focuses on Revenue-Driven Growth
Lily Liu, president of the Solana Foundation, is committed to the long-term goal despite price obstacles. Speaking at Consensus Hong Kong 2026, Liu promoted “Internet Capital Markets,” contending that blockchains are more suited for tokenized, open financial markets than for wide-ranging web3 initiatives. She insisted that genuine network utilization must provide sustainable value for long-term holder opportunities, placing more emphasis on revenue-focused indicators than governance tokens.
Liu positioned Solana as neutral infrastructure for billions of internet users, highlighting Asia as the “core market” for cryptocurrency due to its Bitcoin beginnings and large user base.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
- Read our latest reviews on: Avatrade, Exness, HFM and XM
Save