The post Solana Falls Below $80, Traders Now Watch This Zone Closely? appeared first on Coinpedia Fintech News
Solana (SOL) has slipped below the crucial $80 level, marking a 6% decline over the past 24 hours. The drop comes as the crypto market has entered into Extreme FEAR with Bitcoin (BTC) and
Ethereum (ETH) seeing selling
.
Meanwhile, the fall in Solana price has made traders cautious, as losing this level could decide Solana’s next move.
$21M Liquidations Adds Pressure on Solana Price
This year, 2026, has been rough for Solana as it has dropped about 53%, falling from its yearly high of $148.21.
Eventually, today, Solana hit a low of $77 after failing to break above last week’s high of $91. This rejection pushed the price into strong selling pressure, especially after SOL dropped below the important $80 level .
Since then, the price has been moving sideways near the lows, showing continued weakness.
This massive plunge came after Solana saw total liquidations
worth $21.31 million
in the past 24 hours. Out of this, nearly $19.48 million came from long liquidations, showing that traders who expected the price to rise were forced to close their positions.
Whale Sells $3.9 Million Worth of Solana
Adding to the selling pressure, blockchain tracking platform Lookonchain reported that a major Solana whale, identified as Whale31o3cj, sold 50,000 SOL worth around $3.91 million at $78.27.
Further, whale also exchanged 44,805 SOL worth $3.5 million for 676.27 XAUT, a gold-backed digital asset.
Such a transaction hints that large holders may be reducing exposure from Solana and shifting funds into safer assets.
Next Key Support Level To Watch: $70
Solana’s weekly chart shows a clear Elliott Wave pattern, and the price has now broken below the key Wave (5) support zone near $127. This breakdown confirms the end of the previous bullish cycle and signals a shift toward a bearish phase.
After losing this major level, Solana dropped quickly toward the $80 zone, showing strong selling pressure.
This level previously acted as a strong demand area, where buyers stepped in to stabilize price declines.
Despite the recent drop, market participants are closely monitoring for signs of strength. A quick recovery above $80 would indicate strong buyer interest and could invalidate the bearish breakdown.
