Overview
- Solana fell about 5–6% into the mid‑$80s after failing at $93, with one report noting a brief slide to $83 as oil spiked to $110 and crypto broadly sold off.
- Futures traders pulled back according to CoinGlass, with net outflows turning negative, open interest slipping, and millions in long positions liquidated.
- Technicals weakened as SOL traded below its 20-, 50-, 100- and 200-day averages, and RSI and MACD readings pointed to soft momentum.
- Multiple analysts flagged a bearish flag pattern, a setup where price drifts higher after a sharp drop and often breaks lower, with some projecting a possible move toward $40–$45 if $85 gives way.
- Offsetting forces remain in play as spot SOL ETFs logged modest inflows near $4.5 million and Solana’s network handled about 44% of measured blockchain transactions, suggesting underlying use stays strong.