Solana (SOL) Price: Eight Consecutive Losing Months as SOL Drops Below $80 Support Level

TLDR

• Solana has recorded eight straight months of losses, a first in its history, and is down 36.4% in 2026.
• SOL broke below the key $80 support level and touched a low of $75.58, with $70 now in focus.
• Weekly DEX volume on Solana collapsed 82% in the second half of May, from $104.3B to $18.8B.
• Bitcoin ETF outflows totaled $1.42 billion in the week ending May 29, marking eleven straight days of redemptions.
• Analyst CryptoBullet projects SOL could slide toward the $50 area by July if the breakdown continues.

Solana (SOL) dropped roughly 5% on Tuesday as the broader crypto market pulled back. The total crypto market cap fell 3.44% in 24 hours. As a high-beta asset, SOL fell harder than most and hit around $77 before sliding further to a daily low of $75.58.

The sell-off comes as Solana logs its eighth consecutive monthly loss, the longest losing streak in the project’s history. The token is down 36.4% in 2026 so far. For context, Ethereum has dropped 33.5% over the same period, a comparison that has drawn attention given that Solana was once seen as a faster-growing alternative to ETH.

Bitcoin spot ETFs in the U.S. saw $1.42 billion in net outflows in the week ending May 29, marking the eleventh straight day of redemptions. Analysts say this signals that institutions are pulling back from risk assets. When Bitcoin ETF demand weakens, altcoins like SOL tend to feel the pressure more sharply.

DEX Volume and On-Chain Activity Weaken

On-chain data adds to the bearish picture. Solana’s weekly DEX volume dropped 82% in the second half of May, falling from $104.3 billion to $18.8 billion as the meme coin cycle cooled. Daily active users remain at around 2.1 million, keeping SOL third among Layer 1 networks in that metric. But fee revenue tells a different story: over the past year, Solana generated $317.6 million in fees but only $39.1 million in revenue, a ratio that compares poorly to Tron’s $3.1 billion.

SOL remains the seventh-largest crypto by market cap at $44.58 billion.

Technical Picture Points Lower

The $80 support level, which had held for months, is now broken. When a support level fails after multiple tests, it often flips to resistance. Every moving average tracked by TradingView, from the 10-period to the 200-period, shows a Sell signal. The RSI sits at 29.38, technically oversold, but in a trend like this, that can signal continued selling rather than a bounce.

Open interest has dropped to $5.48 billion and funding rates are near flat at -0.0025%, meaning there is no large short position that could trigger a squeeze.

Analyst CryptoBullet, who called the setup a “big breakdown,” sees Solana heading toward the $50 area by July. In the near term, $70 is the next likely target if the $75–$78 range fails to hold. For a genuine reversal, SOL would need to reclaim $80 and then clear $85.

SOL is down 9.23% this week, 46.63% over six months, and 38.05% year-to-date. Over five years, it remains up 149.62%.

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