Solana Tests $80 Support as Futures Data Signs Rising Risk of Dissolution

Solana’s (SOL) recent price action is drawing more attention from traders as derivatives data and technical indicators converge at a critical level.

With SOL trading near $80 after a major decline, futures markets are showing signs of stress, while broader ecosystem development presents a different long-term narrative. Future periods may determine whether the current pullback stabilizes or evolves into a deeper correction.

SOL's price trends to the downside on the daily chart. Source: SOLUSD on Tradingview

Futures Market Pressure Builds Around Key Support

The latest breakout data shows the risk of termination increasing as advanced bullish positions diminish. According to market statistics, the decline in open interest and negative liquidity suggests that traders are closing positions instead of adding new exposure. This generally reflects a diminishing reliance on short-term rate returns.

As SOL approaches the psychologically important $80 mark, long liquidation has accelerated. Forced selling in futures markets can amplify downward movements, creating a feedback loop in which lower prices trigger more closings.

Analysts note that a confirmed break below $80 could expose lower support areas near $75 and the $70–$60 range if bearish momentum persists.

Technical structures reinforce the notion of caution. The weekly head-and-shoulders pattern and the rising bear flag on the lows both point to downside risks, with some speculation targeting the $50–$57 region if support fails.

Mixed Signals from Technical Indicators and Market Sentiment

Despite the persistent selling pressure, some indicators suggest that the market may be approaching exhaustion. The RSI reading is moving close to an oversold area, historically an area where a short-term reversal is possible. However, momentum indicators and trend strength ratings are still in favor of sellers.

Funding rates turning negative also signal a change in trend, with short exposures increasing across the derivatives markets. The data cited by Santiment shows a decline in public activity and a diminution of interest in projections compared to the peak of 2025, indicating a calmer sentiment throughout the Solana ecosystem.

Short-term resistance remains united between $83 and $90, while a failure to retrace those levels keeps the broader decline firmly in place.

Institutional Growth Provides Long-Term Support

While price action remains weak, network fundamentals continue to show growth.

Research from Messari shows that total RWA at Solana grew nearly 59% quarter over quarter to $1.1 billion. Much of the increase is driven by token treasury products, including funds linked to BlackRock and derivative products from Ondo Finance.

The total amount locked in the network is also close to $10 billion, which highlights the institution’s continued exploration of token funds despite market volatility.

For now, traders remain focused on whether buyers can defend the $80 level. A successful hold could bolster sentiment and ease selling pressure, while a strong decline could set the stage for another wave of selling across the Solana market.

Cover image from ChatGPT, SOLUSD chart on Tradingview

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