Solana price remained in a technical bear market despite soaring network metrics, including transaction volume and fees. SOL token was trading at $87, down sharply from the all-time high of $295. Still, technical analysis suggests that the coin has further downside potential.
Solana Price Prediction: Technical Analysis Points to a Drop to $50
The weekly timeframe chart indicates that SOL remains in a bear market, with the price declining from a high of $295 in 2025 to the current $87. It has remained below the 61.8% Fibonacci Retracement level at $117.
The coin has remained below the 50-week and 200-week Exponential Moving Averages (EMAs), suggesting that bears remain in control. It also remains below the Supertrend indicator, while the Average Directional Index (ADX) has jumped to 28, its highest level since July last year. A rising ADX is a sign that the downtrend is strengthening.
A closer look shows that the coin has formed a head-and-shoulders pattern, and is now slightly below the neckline at $120. The Relative Strength Index (RSI) has moved to the oversold level of 30.
READ MORE: Dogecoin Price is Pumping, But Technicals Point to a Reversal
Therefore, the most likely Solana price prediction is bearish, with the next key target at $50, approximately 40% below the current level. Conversely, a move above the 61.8% retracement level will invalidate the bearish outlook.
Solana’s Network is Thriving and ETF Inflows are Steady
The ongoing Solana price crash could be the calm before the storm, as it has some of the best fundamentals in the crypto industry.
One major aspect is that Solana generates the most fees despite having lower network fees than other chains. Nansen data indicate that the network generated over $25.2 million in fees, substantially higher than the $19 million Ethereum earned in the previous month.
Salana is gaining market share in key industries like stablecoins and real-world asset tokenization. Data compiled by Artemis indicate that the network processed stablecoin transactions totaling more than $707 billion over the past 30 days, making it one of the largest chains in the industry. Its RWA assets have grown to over $1.8 billion, with major firms such as Citigroup and Apollo Global within its ecosystem.
Solana’s transactions have jumped by over 50% in the last 30 days, with the number of active addresses soaring to over $117 million. At the same time, spot Solana ETFs have added over $4.2 million this month, meaning that they have never had a monthly outflow. Spot Bitcoin ETFs have shed over $677 million in outflows this month, while Ethereum has shed $326 million.
READ MORE: Morpho Price Goes Parabolic After Anchorage and Apollo Global Deals
