Overview
- SOL is trading in the mid‑$80s after price slid from May highs above $95 and analyst Ali Martinez identified $78.17 as the key support level to watch on May 30.
- Late‑May large‑holder activity increased supply pressure when on‑chain analytics showed Pump.fun sold roughly 100,628 SOL at about $84.50, and a long‑term staker also liquidated a large position.
- Goldman Sachs fully exited its Solana ETF holdings in the most recent 13F filings, signaling visible institutional pullback from Solana ETF exposure.
- Derivatives markets show trader caution with open interest down about 2.12% to $5.35 billion and volume off roughly 39% to $4.81 billion, and liquidation clusters concentrated in the low‑to‑mid $80s.
- If $78.17 fails, analysts say forced selling and thin ETF flows could push SOL toward the $50s–$60s; market watchers will track open interest, ETF flows, and on‑chain wallet activity for signs of a sustained bottom.