Solana (SOL) falls to $83 as $80 support and $75–$45 zone tested
Solana (SOL) is trading near $83, about 77% below its all-time high. Traders are watching $80 as the near-term support. A two-week setup places SOL around the 0.618 Fibonacci level, while a wider accumulation zone is cited at $75–$45.
Momentum looks weak. The 14-day RSI is around 40.83 (below the ~51 average), suggesting buyers lack control but the market is not deeply oversold. Daily MACD remains slightly negative (MACD ~-0.65 vs signal ~-0.70), implying limited upside strength.
Derivatives data adds risk. Long-short ratios on Binance and OKX are above 3, meaning positioning is still crowded on the long side. Yet liquidations show longs being hit: about $945k liquidated on the 1-hour window (nearly all long), and over $1.04M on the 4-hour window (mostly longs). This setup can make breakouts prone to long squeezes if support fails.
Social sentiment appears to have flipped. Posts that once promoted targets above $250 are now quiet below $80, reinforcing a “speculation reset” narrative. Upside levels mentioned by the article—$500 and $1,000—remain unconfirmed and depend on SOL holding the support area and rebuilding momentum.
Bearish
Both articles frame SOL as being at a critical decision area after a sharp drawdown. Near-term technical momentum is still soft (RSI below average and negative MACD), which supports the short-bias view. While longer-term accumulation is proposed around the 0.618 Fibonacci area and the $75–$45 demand band, the latest added warning comes from derivatives: longs are crowded (long-short ratios above 3) and liquidations are dominated by long positions. That increases the odds of a painful swing lower or a long squeeze if $80 support fails, keeping near-term risk skewed bearish. The upside targets ($500–$1,000) remain conditional, not confirmed.