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>>Solana (SOL) Drops Below Key Support as Crypto Weakness Worsens, New Lows Expected

Solana (SOL) Drops Below Key Support as Crypto Weakness Worsens, New Lows Expected

crypthub

about 6 hours ago

Market Weakness and SOL Price Drop

Solana has slipped below $75, extending a six‑week losing streak amid a broader crypto sell‑off. Traders are shifting to risk‑off positions as confidence wanes across the market. The asset now hovers near key support zones that will decide its next move. Momentum remains negative despite occasional price spikes.

Derivatives Signals and Technical Trend

Futures open interest fell about 2% to $5.09 billion while trading volume surged, suggesting liquidations rather than fresh buying. Funding rates turned negative and the long‑to‑short ratio dropped below 1, indicating a short‑biased stance among larger traders. SOL stays below major moving averages, with RSI approaching oversold territory. A bearish trend line caps upside attempts near $82‑$83.

On‑Chain Confidence and Critical Levels

Only roughly 20% of Solana addresses are profitable, the lowest level since late 2023. Long‑term holder accumulation has slowed as prices fell below $100, hinting at reduced conviction. Immediate support clusters between $75 and $67; a break could target $62‑$60. Without a firm reclaim of higher resistance, the downtrend is likely to persist.