SOL Price Eyes $75 Risk as Liquidation Clusters Build Near $84

Key Insights:

• According to the Solana price prediction, SOL is trading around the $80 support level.
• Pump.fun selling and whale exits added pressure on market sentiment.
• A break below $80 may expose SOL to the $75–$76 support zone.

The Solana price prediction has turned bearish after SOL moved toward the $80 support zone. The token fell about 5% intraday on May 28, according to CoinMarketCap data. It had traded above $95 earlier this month before losing momentum. The latest decline erased most of Solana’s late-April recovery.

The SOL price came under pressure after a bearish double top formed near $98. That level rejected price action twice, in March and May. The pattern now places the $80 area at the center of market attention.

Broader weakness in crypto also weighed on Solana’s price. Bitcoin slipped below $73,000, while Ethereum dropped under $2,000. The decline followed rising tension between the United States and Iran. Oil prices also moved higher as traders feared supply risks in the Strait of Hormuz.

Source: X

Higher energy costs can reduce risk appetite in speculative markets. Altcoins usually face sharper losses during such periods. Solana’s high beta profile exacerbated the move.

Solana Price Prediction Shows Fresh Selling Pressure

Solana price prediction also weakened after fresh on-chain selling hit the market. Pump.fun resumed large-scale treasury sales after months of inactivity. Lookonchain data showed that the platform sold about 100,628 SOL near an average price of $84.5.

That sale added a fresh supply while buyers were already defensive. A long-term staker also liquidated roughly $137.7 million worth of SOL during the downturn. This raised concerns that large holding players were reducing their exposure near the key support level.

Institutional demand has also cooled since early May. Public filings showed Goldman Sachs exited its Solana ETF exposure during the latest reporting period. That move removed one bullish narrative that had supported sentiment earlier this year.

At the same time, spot Solana ETF flows slowed across several U.S. products. Large asset managers have reduced crypto allocations in recent weeks. This increased the risk of technical selling and reduced the liquidity in Solana.

Derivatives data also indicated that more bears are entering the market. CoinGlass revealed significant clustering of liquidations around $83, $84, and $88. It did not return to these levels, triggering stop-loss selling and causing SOL to decline.

SOL liquidation heatmap | Source: CoinGlass

The open interest on Solana perpetual futures also fell in the correction. This indicates that traders were exiting their leveraged long trades rather than entering new bull trades. Major exchanges saw funding rates also shift into negative territory.

SOL Price Risks Deeper Drop If $80 Support Fails

The SOL price chart shows a clear double top structure near $98. The neckline sits near $81, close to the 0.236 Fibonacci retracement level. TradingView data shows SOL slipping below that level during intraday trading.

A confirmed breakdown below $80 could open the path toward $75–$76. That area matches the measured downside target from the double top. It also aligns with the lower boundary of Solana’s multi-month consolidation range.

Solana price remains below the 50-day moving average near $86.5. The 20-day moving average has also moved above short-term price action. These signals show that sellers still control the near-term trend.

SOL Daily Chart Assessed for Solana Price Prediction | Source: TradingView

A descending resistance trendline from March highs remains intact. Every rebound since late April has created lower highs. This confirms a weakening recovery structure on the daily chart.

Crypto trading group AltCryptoGems noted that $88 has flipped into resistance. The group warned that a move toward $76 could follow if sellers hold control. The analysts also flagged a wider bearish structure after SOL lost a major support zone.

Meanwhile, traders are watching the $80 region closely. A recovery above $84 could trigger a move toward the $88 short liquidation zone. If bulls don’t hold the $80 level, another pullback towards the $75 area may be triggered, with leveraged long liquidations remaining vulnerable.

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