The price of Solana is hovering around $80 as the bearish sentiment is growing and the key support at $75 is coming into focus.
Summary
- Solana’s price outlook remains bearish as SOL trades near the lower end of its weekly range.
- Funding rates turned negative while open interest rates rose, indicating an increase in short exposure.
- A loss of the $75 level may result in a move to the $70–$60 area.
Solana traded at $81.67 at press time, down 3.7% in the last 24 hours. Over the past seven days, SOL has moved between $76.81 and $90.59, hovering near the bottom of that band.
The decline has been persistent. Solana (SOL) is down 38% in the last 30 days and 50% in the last year. Each jump is accompanied by a low high, which keeps pressure on the chart.
In derivatives markets, activity is always high. CoinGlass data shows futures volume increased by 6% to $8.01 billion, while open interest increased by 3% to $5.24 billion. When open interest rises as the price falls, it usually reflects new short positions being added rather than eager exits. Basically, traders are leaning towards bearish.
Hype fades as funding turns negative
According to a February 19 report from Sentiment, the excitement surrounding Solana in 2025 has faded considerably. The token is now down 67% from its high of $249 on September 18, 2025. Public dominance, which was once more than 6%, is down less than 0.4% daily.
Network-related concerns have also weighed on sentiment. In January, maintainers urged verifiers to upgrade to Agave/Jito v3.0.14 after two vulnerabilities were disclosed. One problem could disrupt the verification zones, while the other involves vote processing and raises questions about the integrity of the consensus.
Although the fix was delivered quickly, the urgency highlighted how coordination affects confidence and self-esteem.
Infrastructure talks have resurfaced after the disruption on Feb. 4, where traffic across the continental US is temporarily diverted to Europe and Asia. Although redirection is common in networking, performance consistency is important for high-speed networks and greatly affects the user experience.
Santiment also noted that the memecoin mania that once fueled record trading activity on the chain is over, along with the launch of NFT. Funding levels, however, have fallen dramatically. Shorts pay off in the long run. Extended negative support may create squeeze conditions if the price stabilizes, but for now, it shows a dominant bearish position.
These factors have weakened SOL’s technical outlook, with a retest of the $50 to $60 range if sellers remain in control. Despite the price weakness, daily network growth has increased. The creation of new wallets has continued to rise, indicating that activity has not disappeared.
Solana price technical analysis
The daily chart shows a clear bearish structure. The highs and lows have been building for weeks. SOL is trading below the 50-day and 200-day moving averages, and the 50-day remains below the 200-day in a death cross alignment. The volume of both averages points down.
The recent bounce failed near the $90–$100 supply area, which now acts as a strong resistance. Strong resistance remains around $88–$95, where the short-term moving averages meet.
The momentum is not strong. The daily RSI is near 33, moving above the oversold zone. It has not found the middle line of 50, which keeps sellers in control. An oversold reading can produce quick bounces, but it does not guarantee a reversal by itself.
Price was riding a lower Bollinger Band. The bands are extended during the sale, indicating increased volatility. There was no sustained move back to the middle band (20-day average).
Key support remains at $80–$82, followed by the psychological level of $75. Below that, the next demand zone appears around $70–$72. A deeper slide would reveal the $60 region, which coincides with the previous major structure.
On the downside, resistance stands at $88–$90, then $100. A recovery above $100 on strong volume would weaken the bearish case. For that to happen, the RSI will need to push above 50, the support will need to stabilize, and the price will need to form a low above $80.
