Solana price risks breaking $80 as bearish rounded top forms
Solana price is under pressure after failing to hold above $90 and now trades around $83–$85. A bearish rounded top is forming on the 4-hour chart, with the neckline/support area near $78–$80. A decisive Solana price breakdown below this zone could trigger a sell-off toward $75 and possibly $70.
Market signals add to the caution: short-term moving averages are converging and turning lower, suggesting sellers are gaining control. The broader crypto backdrop also looks heavy, with Bitcoin hovering below key resistance and limiting upside for high-beta altcoins.
On-chain and flow factors are cited as additional bearish catalysts. The article points to slowing DEX activity, stalled spot Solana ETF inflows in recent weeks, and a transfer of over 300,000 SOL to exchanges, raising potential near-term sell-side supply concerns.
Traders’ key levels: support at $78–$80 (break = downside confirmation) and resistance at $88–$90 (reclaim = invalidation risk). If bulls defend the neckline and push back above resistance, the bearish Solana price setup could be weakened.
Bearish
The article frames a bearish technical setup for Solana price: a rounded top on the 4-hour chart with a neckline at $78–$80. In similar past breakdowns of rounded-top structures, once price loses that neckline, momentum traders typically fade rallies and trend-followers add shorts, accelerating downside toward the next horizontal support levels ($75, then $70 in this case).
The broader market tone supports the bearish bias. With BTC hovering below key resistance, upside attempts in high-beta assets like SOL often fail faster, increasing the probability that SOL’s support will be tested repeatedly.
Fund-flow and on-chain points add “fuel” to selling pressure. Slowing DEX volumes can mean weaker native demand, and stalled spot Solana ETF inflows suggest institutions are not providing fresh buy-side support. The transfer of 300,000+ SOL to exchanges is commonly interpreted by traders as higher near-term sell-side availability.
Short term: watch for confirmation—close(s) below $80 would likely increase volatility and sell momentum. Long term: if SOL can defend $78–$80 and later reclaim $88–$90, the bearish pattern could be invalidated; otherwise, repeated failures near resistance could keep SOL in a lower trading range and reduce risk appetite.