Solana’s native token SOL remained under heavy selling pressure on Friday, trading at $75.65, down about 5% over 24 hours, after closing below the key $80 level and sliding roughly 39% from its late-September high near $125. The decline places the token just below its lower Bollinger Band at $75.76 and below all four daily moving averages, with the 20-day EMA near $89.20 and the 50- and 200-day averages clustered between $96.60 and $96.80.
ETF flows have reinforced the bearish trend. According to SoSoValue, US spot Solana ETFs lost $58.31 million over seven consecutive sessions through November 13, with another $1.9 million pulled on November 12. Traders are also watching the $70 round-number level as psychological support, while the next well-mapped chart support sits far lower near $42.14.
The Depository Trust & Clearing Corporation offered a contrast to the immediate selling. DTCC plans to connect its Tokenization Service to Solana in the second half of 2027, making Solana the fifth network on the clearing giant’s tokenization roadmap. The plan could eventually bring tokenized stocks and bonds onto Solana and place the network inside core US market infrastructure, but it remains a plan rather than a launch.
Technically, the picture remains fragile. Solana has broken below the August low near $75, which had been treated as a downside target. The daily RSI has dropped to 18, indicating deeply oversold conditions that occasionally precede sharp but short-lived relief bounces. However MACD remains below its signal line, suggesting downward momentum is still intact. Resistance sits near $95.82, just under the merged 50- and 200-day moving averages, followed by the round $100 level.
Solana’s all-time high of $293 from January 19, 2025 now sits about 72.8% above current prices. Staking rewards also continue to add new tokens to supply, gradually diluting existing holders. Until SOL regains the area around its long-term moving averages, the chart remains in a downtrend despite the 2027 DTCC plan.
