Solana price has been going through an important test in the 80-85 dollar band lately. The weakness in technical indicators and the ongoing outflows from the market caused the downward pressure in this region to become increasingly stronger. Although Solana, which is closely followed in the cryptocurrency market, recorded a limited recovery during the day, it is having difficulty in regaining critical resistance levels. In order for an upward momentum to occur in this chart, existing resistances will need to be overcome.
In the bearish scenario, $74 and $50 levels stand out
In the three-day chart shared by crypto analyst Ali Martinez, it can be seen that Solana has lost its upward trend line. This technical break indicates a transition from bullish to bearish. With this change in technical analysis, $ 74 stands out as the first main support point, while around $ 50 is watched as a new target if the downward movement continues. Falling below the trend line generally means that the market has turned from the accumulation process to selling, and unless there is a strong recovery, downside risks are considered to have increased.
In the lower time frames, the price is concentrated in an important demand zone in the $80–$82 band. While crypto analyst Aleksander Shevchenko argues that this level forms a base in the short term, he thinks that there may be a short-lived rise in the market with a rapid recovery following a possible rapid decline.
Shevchenko evaluated that after a short-term decline below $ 80, a recovery could be seen towards the $ 86, 89-91 and $ 95 levels with the re-engagement of buyers.
However, if the price fails to recover above $82, it could continue to decline towards lower supports such as $78 and $74. It seems difficult for the rise to be permanent, especially unless there is a significant increase in transaction volume.
Institution sales and ETF exits add to pressure
Recently, sales pressure has been noticeable in some public companies affiliated with the Solana ecosystem. Stock losses and high selling intensity in companies such as Forward Industries, SOL Strategies Inc., Sharps Technology and DeFi Development Corp are creating additional weakness in the market. It is known that these companies have Solana in their portfolios; The sales are directly reflected in on-chain data and market psychology.
According to TED’s analysis, as sales in the assets of these institutions continue, the pressure on prices increases and a serious weakening occurs on the demand side.
In addition, the increasing fund outflow from Solana-based spot ETFs in recent days is also noteworthy. According to data published on crypto analysis platforms, recent flow charts have turned from positive to negative, showing declining institutional interest. Outflows in ETFs generally make it difficult for prices to find support in the future and cause new purchases to decrease.
Macro risks and critical threshold
Attention is also drawn to the possibility of a larger technical decline. Analysts are of the opinion that if the Solana price moves away from the $ 95-100 region again and an upward structure cannot be established, a new decline area may form up to $ 74 and then $ 50. On a macro scale, lower levels (such as the 30-17 dollar band) stand out as support zones formed in the past, but these scenarios are thought to be unlikely to occur in the short term.
In light of all these developments, the $80 level in Solana price is a critical threshold in the short term. If this support is maintained, the possibility of recovery up to $ 90 may come to the fore, otherwise the groundwork will be prepared for deeper correction movements. Analysts state that downward pressure continues in the current structure and price movements will be decisive in the short term.
