Solana price risks drop below $80 support as a rounded top forms
Solana ($SOL ) is trading near $83 after facing repeated rejection at the $88–$90 resistance zone, signaling weakening bullish momentum. The price action now suggests a potential trend shift as sellers begin to take control.
Technically, a rounded top pattern is forming, which is a bearish reversal signal. The key support level lies around $78–$80, and a breakdown below this zone could confirm further downside. In that case, SOL may decline toward $75, with a deeper move possibly extending to $70.
Market conditions are also adding pressure. Slowing on-chain activity, declining DEX volume, and reduced institutional interest are weakening demand. Additionally, a large transfer of SOL to exchanges has raised concerns about increased selling pressure.
However, if bulls manage to push the price back above the $88–$90 resistance, the bearish scenario could be invalidated, and the market may stabilize.