Solana (SOL) drop go $83 as $80 support and $75–$45 zone dem dey test
Solana (SOL) dey trade near $83, about 77% below hin all-time high. Traders dey keep eye for $80 as near-term support. Two-week setup place SOL around the 0.618 Fibonacci level, while wider accumulation zone dey for $75–$45.
Momentum weak. 14-day RSI around 40.83 (below ~51 average), meaning buyers no hold control but market no too oversold. Daily MACD still small negative (MACD ~-0.65 vs signal ~-0.70), show say upside strength limited.
Derivatives data add risk. Long-short ratios for Binance and OKX pass 3, so positioning still crowded for long side. But liquidations show say longs dey get hit: about $945k liquidated on 1-hour window (almost all longs), and over $1.04M on 4-hour window (mostly longs). This fit make breakouts prone to long squeezes if support fail.
Social sentiment don change. Posts wey use to push targets above $250 don quiet now under $80, support the “speculation reset” story. Upside levels mentioned — $500 and $1,000 — still unconfirmed and depend on SOL to hold the support area and rebuild momentum.
Bearish
Both article dem dey yarn say SOL dey for one critical junction after e sharp drop. Short-term technical momentum still soft (RSI below average and MACD negative), wey support short-bias view. Even though long-term accumulation dey proposed round the 0.618 Fibonacci area and the $75–$45 demand band, the latest warning come from derivatives: longs don crowded (long-short ratios pass 3) and liquidations dey dominated by long positions. That one increase the chance of painful swing down or long squeeze if $80 support fail, keeping short-term risk skewed bearish. The upside targets ($500–$1,000) still conditional, no confirm yet.