Overview
- SOL confirmed a breakdown below the $76.6–$77 support zone and briefly fell to a 52‑week low near $66.6, leaving the short‑term trend firmly bearish.
- Citing Thursday's liquidation data, more than $1.66 billion was wiped from crypto derivatives, including roughly $1.42 billion in long positions, while U.S. spot Solana ETFs posted about $12.7 million in net outflows.
- Technical indicators show SOL trading below the 20/50/100/200 EMAs with bearish MACD readings and a completed range/double‑top breakdown that places a measured downside target near $53.
- On‑chain metrics diverge from price action: decentralized exchange volume has fallen about 62% since January even as Solana processed heavy stablecoin transfers and won Mastercard selection for regulated stablecoin settlement.
- If selling continues, analysts expect a possible retest of a $58–$67 support band before any recovery and warn that failure there would increase the chance of moves into the low‑$50s with broader market weakness potentially deepening losses for retail and leveraged traders.