Solana Fundamentals Stay Strong — But Is $87 Coming First?
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Solana still has a strong long-term story.
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The recent Alpenglow upgrade, growing stablecoin adoption, and an active DeFi ecosystem continue to support the network fundamentally.
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But right now, the market is telling a different story.
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Solana ETFs have seen around $71.5M in outflows across five consecutive sessions, while roughly $111M in $SOL was transferred by unidentified whales to Coinbase Institutional.
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Those transfers do not confirm selling, but they are still something I’m watching closely.
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Technically, SOL has lost the important $102 and $104 trading levels and is now putting pressure on its Support Zone.
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I expect a temporary bullish reaction around the Cumulative Long Liquidation Leverage ($92-$94).
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But with Bitcoin still weak and broader market sentiment under pressure, I’m not convinced this area will hold for long.
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If ($92-$94) fails, my next area is around $87, close to the important $85 trading level.
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For me, the story is simple:
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Strong long-term fundamentals → Weak short-term structure
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Possible bounce from ($92-$94) → But downside risk toward $87 remains
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What comes first?
⠀
🟢 SOL recovers above $104
🔴 Another decline toward $87
⠀
#solana
⠀
Solana still has a strong long-term story.
⠀
The recent Alpenglow upgrade, growing stablecoin adoption, and an active DeFi ecosystem continue to support the network fundamentally.
⠀
But right now, the market is telling a different story.
⠀
Solana ETFs have seen around $71.5M in outflows across five consecutive sessions, while roughly $111M in $SOL was transferred by unidentified whales to Coinbase Institutional.
⠀
Those transfers do not confirm selling, but they are still something I’m watching closely.
⠀
Technically, SOL has lost the important $102 and $104 trading levels and is now putting pressure on its Support Zone.
⠀
I expect a temporary bullish reaction around the Cumulative Long Liquidation Leverage ($92-$94).
⠀
But with Bitcoin still weak and broader market sentiment under pressure, I’m not convinced this area will hold for long.
⠀
If ($92-$94) fails, my next area is around $87, close to the important $85 trading level.
⠀
For me, the story is simple:
⠀
Strong long-term fundamentals → Weak short-term structure
⠀
Possible bounce from ($92-$94) → But downside risk toward $87 remains
⠀
What comes first?
⠀
🟢 SOL recovers above $104
🔴 Another decline toward $87
⠀
#solana
