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Solana Price Forecast: Bears Tighten Control as SOL Tests Critical Support Near $67
Solana ($SOL) continues to face growing pressure as sellers maintain control of the market following a sharp decline from recent highs. The cryptocurrency is now trading near $68.5 after losing several important support levels that had previously helped stabilise price action. Market participants remain cautious, as weakening sentiment, declining capital flows and a fragile technical structure point to continued downside risks.
The latest sell-off gained momentum after $SOL broke below a major Fibonacci support level near $78.9. As a result, the breakdown accelerated bearish activity and brought the asset closer to a critical support zone around $66.8. Traders are now closely watching this area, as another decline could trigger a move towards the psychological $60 mark.
Technical Structure Remains Under Pressure
The broader chart structure continues to favour sellers. Solana is currently trading below its 20-, 50-, 100- and 200-day exponential moving averages. This alignment reveals persistent weakness across both short-term and long-term timeframes.
Solana price dynamics. Source: TradingView.
In addition, the market continues to print lower highs and lower lows, reinforcing the ongoing downtrend. The Supertrend indicator also remains in bearish territory after a negative flip near the $81 level. As a result, recovery attempts are struggling to gain traction.
Immediate resistance is seen near $74.3, while additional barriers are located around $78.9 and in the broader recovery zone from $82.6 to $86.4. Bulls need to reclaim this range to improve sentiment and challenge the current bearish outlook.
Open Interest Signals Cautious Participation
Derivatives activity offers another view of market conditions. Open interest previously rose above $15 billion when Solana climbed towards the $250–280 range. During that period, speculative participation surged as traders positioned for further upside.
Source: Coinglass.
However, open interest declined significantly after the rally peaked. Liquidations, profit-taking and reduced leverage contributed to the drop. Today, open interest has stabilised around $4.9 billion, while $SOL is trading near $71.
This stabilisation suggests that traders remain engaged in the market. However, many participants appear unwilling to increase exposure until a stronger directional catalyst emerges.
Capital Flows Reflect Weak Market Sentiment
Source: Coinglass.
Spot-market activity also supports a cautious outlook. Outflow data has consistently exceeded inflows throughout most of the observed period, indicating persistent selling pressure. Large capital exits dominated several months of trading, especially during periods of price decline.
In addition, recent inflows have remained relatively modest compared with earlier distribution phases. The latest net-flow reading stands at approximately minus $6.15 million, pointing to a continued, though less aggressive, capital outflow.
Technical Price Forecast for Solana
Key levels remain clearly defined as Solana trades near a critical support zone after a prolonged correction.
Upside levels: $74.30, $78.90 and $82.60 represent the first major resistance barriers. A sustained breakout above this cluster could open the path to $86.40 and, eventually, the psychological $90.00 level.
Downside levels: $66.80 remains immediate support and a key demand zone. If sellers force a break below this level, $SOL could decline towards $60.00, with additional downside risk emerging near $55.00.
Resistance ceiling: the 20-day EMA near $81.10 remains the first serious obstacle for any recovery attempt. In addition, the 50-day EMA at $84.40 and Supertrend resistance near $81 reinforce the bearish structure.
The technical picture shows that $SOL remains trapped in a strong downtrend characterised by lower highs and lower lows. However, the price is approaching a historically important support zone where buyers may attempt to stabilise the market. The stabilisation of open interest near $4.9 billion also indicates that traders are waiting for a decisive direction.
Will Solana Rise?
Solana’s near-term outlook depends on whether bulls can hold the $66.80 support level and reclaim the $78.90–82.60 resistance zone. Stronger spot inflows and improved market sentiment could support a recovery towards $86.40 and $90.00.
However, continued outflows and weak momentum would increase the likelihood of a breakdown below support, exposing $SOL to the $60.00 area and potentially lower levels. For now, Solana is at a key technical stage. The next major move will likely depend on whether buyers can regain control of the key resistance levels while keeping support above $66.80.
