Solana has dropped more than 21% from its June high and is now testing a critical support zone near $60 after whale selling, weakening DeFi activity, and a sharp market-wide liquidation event erased several months of gains.
Solana (SOL) edged higher in choppy trading on Monday, holding near the mid-$60 range even as broader crypto markets remained volatile—an area traders are watching closely as a potential pivot for near-term direction. As of 5:05 a.m.
Solana price holds a key accumulation zone as analysts watch Fibonacci support, recovery signals, and long-term $1,000 targets.
Solana currently changes hands near $64.85 following a recovery from the $60 support zone. This upward movement marks a 5% increase over the past day, providing temporary respite after an extended bearish period.
Solana may be flashing one of its biggest recovery signals in weeks. After a painful correction that wiped out bullish momentum across altcoins, SOL suddenly bounced more than 3%, just as traders started spotting signs of exhaustion in the selloff.
Despite extreme fear across crypto markets, Solana's strength raises questions about whether a true decoupling is beginning.
Solana (SOL) is attempting a relief bounce after sliding to a three-year low near $60, but analysts say the recovery remains fragile as the token continues to trade below key moving averages and faces a dense band of overhead resistance between $75 and $81. In recent sessions Solana fell below $61 amid broad-based selling in crypto markets, extending its decline to six consecutive down days before stabilizing.
After a steep selloff that reinforced bearish momentum, Solana appears to be entering a period of consolidation as Wave 4 unfolds. Such corrective phases often offer short-term relief and can also serve as a launching pad for the next leg of a downtrend.
A Solana staking whale, monitored by Arkham Intelligence under the entity name ‘SOL Staking Whale', has lost most of the profits it made in a span of 5 years in the recent market crash. At the start, the whale invested about $26 million in assets.
Solana fell to $66 as whales cut exposure and analysts flag $50. But the network is shipping its biggest-ever upgrades.
Solana price has rebounded from a three-year low after a wave of liquidations eased and buyers stepped back into the market, though traders remain divided on whether the token can reclaim its May highs. According to data from crypto.
Solana price tests major weekly support after a sharp breakdown as short liquidity builds near the $89 zone.