Solana's SOL token is facing renewed downside pressure, with technical analysts warning of a potential 20% decline toward the $80 support level. A bearish chart pattern is threatening the crucial $100 price level, which has acted as a psychological and technical floor for traders.
The bearish setup comes even as underlying blockchain adoption continues to grow, highlighting a divergence between long-term network fundamentals and short-term market sentiment. Persistent withdrawals from Solana-related exchange-traded funds have added to the selling pressure, signaling caution among institutional investors.
Market participants are now watching whether SOL can hold $100. A confirmed breakdown below that level could accelerate losses toward $80, where buyers may attempt to defend the next major support zone.
