Overview
- SOL trades near $83–$88, sits below key moving averages, and maintains a sequence of lower highs that confirms a bearish structure.
- Participation keeps fading with spot volume down about 36% to $3.72 billion, derivatives volume off 22% to $9.46 billion, and open interest near $5.3 billion.
- Derivatives lean bearish with funding around -0.0222 and recent liquidations totaling roughly $8.38 million adding to volatility.
- Analysts are watching $80–$75 for support, with some flagging $78.5, and warn that a breakdown could open paths toward $72, $68, or even $51.
- Flows send mixed signals as Bitwise’s Solana staking ETF drew $1.48 million in inflows, 1.077 million SOL exited exchanges, and reports highlight validator counts falling to under 800 from prior peaks.