Solana Price Slips Back to Mid-$80 Range Amid Institutional Outflows

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Price Decline: Solana (SOL) has slipped back to around $85 after multiple rejections near $100, representing a 15% drop from its early May peak, indicating a significant weakening in market appetite for risk assets.
Institutional Outflows: U.S. crypto investment products have recorded over $1 billion in weekly outflows recently, particularly after Goldman Sachs exited several Solana and XRP exchange-traded products, intensifying concerns about institutional capital rotating away from speculative altcoins.
Deteriorating On-Chain Metrics: Solana's decentralized exchange (DEX) activity has cooled significantly, with weekly trading volume dropping over 50% from recent highs, leading to reduced fee generation and weakening demand for SOL, impacting overall ecosystem activity.
Fragile Technical Structure: After failing to break above the $98-$100 resistance zone, Solana has formed a double-top pattern, and a breakdown below the $78 support could validate the bearish pattern, potentially driving prices further down toward the low $70s.

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Technical Analysis for SOL

Technical Sentiment Analysis for Solana (SOL). As of , Solana (SOL) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 5 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Solana (SOL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	73.656	77.578	81.596	85.518	89.536	93.458	97.476
Fibonacci	77.578	80.611	82.485	85.518	88.551	90.425	93.458

About SOL

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.To learn more about this project, check out our deep dive of Solana.The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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