Solana’s local cryptocurrency SOL has been on the agenda with increasing sales pressure recently. With the loss of key technical support levels, SOL price recently hit a two-year low of $67. While there was a short-term recovery above $75 in early February, investors are closely watching whether the price can maintain the $80 level.
Market Outlook and Price Movements
SOL draws attention especially with its loss of value exceeding 38 percent in the last 30 days. If it remains below $80, technical market analysis indicates that the price may drop to $50. While the recovery starting from $67 on the weekly charts remained limited, the decrease in transaction volume shows that sellers are dominant in the market. The price is moving in a falling channel between the $67 support and $96 resistance, and macroeconomic weakness supports this view.
Technical and Fundamental Views
During this period, where short-term investors sold at a loss, long-term SOL owners accumulated 1.97 million SOLs. The decrease seen after sudden increases in transaction volume stands out as a sign of fatigue in the market. On the other hand, Circle’s creation of $250 million USDC on the Solana network on February 9 indicates that the demand for liquidity has strengthened. This development facilitates trading by increasing the supply of stablecoins traded on DeFi.
Analysis company Bitcoinsensus suggests that the neckline of the head-and-shoulders formation seen on monthly charts has been broken and the technical target is $50.
In another opinion that stands out in technical analysis, analyst Nextiscrypto argues that a “classic head-and-shoulders pattern” has formed on the two-week chart and the price may drop to $45. It is reported that if $ 92 is not exceeded, the downward trend may accelerate.
Network and Ecosystem Developments
The Solana ecosystem continues to grow with new infrastructure developments despite price declines. GetBlock emerged as the fastest Solana RPC provider in Asia in CompareNodes’ tests. The low latencies offered support the growth of decentralized applications, especially in key markets such as Bahrain and Mumbai. Additionally, Uniform Labs and Metalayer Ventures launched a private liquidity pool for tokenized real assets on Solana. This step paved the way for assets to be converted into cash instantly, and a solution is sought to the liquidity imbalance mentioned in the Bank for International Settlements reports.
Solana’s tokenized real asset (RWA) ecosystem has reached a total value of $1 billion, placing it third behind Ethereum. Still, ongoing weakness and high risk perception in the overall crypto market continues to weigh on Solana price.
Institutions’ Attitudes and Future Expectations
SharpLink CEO Joe Chalom argues that Solana’s low fees and speed advantages are not enough for large-scale users, citing the preference for Ethereum’s stability and market dominance on the enterprise side. On the other hand, Solana co-founder Anatoly Yakovenko proposes a new community-driven tokenomic model, aiming to achieve long-term stability in projects with a larger initial rate of token distribution and a one-year lock-in period.
Price Scenarios and Investor Strategies
Technical data shows that if $80 is lost, there are increased chances of SOL testing the $50-60 range in the next 4-6 weeks. It is stated that if it remains above $ 72, the price may recover to the range of $ 95-102, thanks to USDC liquidity and innovations in the network. For patient investors, a strategy of buying between $60-67 and selling above $95 is recommended. However, the risks that the price will drop to $30 in the ongoing bear market continue to remain on the agenda.
