Solana Price Struggles as $80 Level Faces Pressure, Can Long-Term Holders Step In?

The Solana price has slipped toward a key support zone as broader crypto markets show signs of cooling. After several days of selling pressure, the token briefly dropped to around $80, raising questions about whether buyers, particularly long-term holders, will defend the level or allow further downside.

The decline followed a failed attempt to sustain momentum above $90. Since then, Solana (SOL) has broken below several short-term support levels, leaving traders focused on whether the $80 region can continue acting as a floor for the asset in the near term.

Market data shows SOL recovering slightly at the start of the week, gaining roughly 2% after four consecutive days of losses. However, the broader technical structure remains under pressure, with the token still trading below key moving averages on multiple timeframes.

Technical Indicators Point to Weak Solana Price Momentum

The Solana price touched a recent low near $80.29 after falling through support levels at $88 and $85. Technical charts now show a descending trend line forming around $85.50, which analysts identify as the main resistance level in the short term.

If the token manages to break above that level, the next resistance zones are near $87.20 and $88.80. A move above $88.80 could open the path toward higher targets near $95 and potentially $102.

However, downside risks remain if the $80 level fails to hold. In that scenario, analysts point to potential support near $72 and $65.

Momentum indicators suggest the market has not yet regained strength. The RSI sits below the neutral 50 level, indicating weaker buying pressure, while the MACD histogram shows contracting momentum. Solana is also trading below its 50-, 100-, and 200-day exponential moving averages, a signal that the broader trend remains bearish for now.

Derivatives market data shows open interest rising slightly to around $5.01 billion. Despite that increase, liquidations reached nearly $19.8 million over 24 hours, with long positions accounting for the majority.

ETF Flows and Market Conditions Add Uncertainty

Institutional activity in Solana-related exchange-traded funds (ETFs) has shown mixed signals. U.S. spot Solana ETFs collectively hold roughly $800 million worth of SOL, with cumulative net inflows approaching $957 million.

Last week recorded about $24 million in net inflows. However, the final two trading sessions saw withdrawals totaling more than $13 million, reflecting a shift in sentiment as broader financial markets faced pressure from rising oil prices and geopolitical uncertainty.

RWA Adoption Expands on Solana

While the price has struggled, network adoption metrics have shown growth. Solana recently surpassed Ethereum in the number of wallets holding tokenized real-world assets (RWAs), reaching more than 154,000 addresses.

Much of that growth is linked to retail investors using Solana’s low-fee infrastructure to trade tokenized shares of companies such as Tesla and Nvidia. The broader tokenized asset market has grown significantly in recent years as financial institutions explore blockchain-based settlement systems.

Despite the milestone, Ethereum still dominates the sector in terms of total value. Tokenized assets on Ethereum exceed $15.5 billion, compared with roughly $1.8 billion on Solana. Analysts believe the steady adoption of the SOL ecosystem will propell the Solana price to anticipated gains.