Solana dey test support $79–$80; eye dey $100–$120, if e break e fit make am fall more
Solana (SOL) dey test di $79–$80 support zone after e fall from May high wey near $98. Analysts for Scient talk say if e hold $80 e go keep di recovery setup, wit upside targets of $100 and even $120.
Di bearish case na clear break under $79–$80. Dat one fit deepen di correction go mid-$20s, and oda analysts dey flag $62 if di $72–$78 area fail. Up top, daily bearish double-top near $98 and earlier breakdowns below short-term levels (round $90 and $85) dey keep near-term risk high. Di weekly structure dem call am a bearish flag, and SOL still below key areas like di ~ $111 Fibonacci retracement.
Derivatives positioning still cautious: SOL perpetual open interest don drop and funding rates dey negative, wey mean less leveraged long exposure and shorts still get control. CoinGlass point out say dense liquidation liquidity dey around $80, with extra pools near $84–$86 — meaning one decisive move fit trigger forced liquidations and faster volatility.
Macro and on-chain pressures add supply risk. Oil-price wahala wey concern Strait of Hormuz shipping threats don revive inflation fears wey usualy damage high-beta crypto like SOL. On-chain, Pump.fun reportedly move over 100,000 SOL (about $8.3M) to Kraken, and reports talk say one long-term Solana whale sell more than $137M worth of SOL after unstaking.
For traders, $79–$80 na di immediate line in di sand for SOL liquidity-driven swings; if e reclaim am e go improve chances of push to $98–$100, but if e break down e likely go accelerate di downside.
Bearish
Di lata article tighten di trading map aroun SOL liquidity profile. E reinforce say $79–$80 na di key "line for sand" for SOL, wey heavy liquidation liquidity dey clustered. With funding rates negative and open interest down, leveraged longs no get strong support while shorts still dey control, so if e break below di support e likely pass to trigger forced liquidations and quicken di move down.
Upside targets ($100–$120) dey, but dem depend on SOL to hold $80 and then reclaim di overhead resistance near $98. Di presence of daily bearish double-top around $98, di bearish-flag weekly structure, plus macro headwinds (oil-driven inflation fears) and ongoing on-chain supply (Pump.fun transfers, whale selling) all together dey tilt di probabilities toward continued weakness, especially short-term. Long-term, if e go shift di bias e need steady hold above $80 and recovery above key retracement/levels.