Solana price prediction: Will $60.19 support hold as SOL drops 4.57%?

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Solana slides 4.57% to $64.11 today

Highlights

SOL Strategies liquidated 65,001 SOL, reducing its holdings by 12.5% to address over $4.1 million in debt, intensifying immediate sell pressure.
Solana’s stablecoin supply surpassed $16 billion amid strong network activity, while ecosystem leaders advocated for the CLARITY Act to support developers.
SOL/USD remains bearish, trading under key moving averages and support, with indicators signaling high likelihood of further downside toward $60.19–$66.78.

Debt-driven token sales intensify supply pressures despite network growth

SOL Strategies, a Solana treasury firm, sold 65,001 SOL tokens to address over $4.1 million in debt, reducing its holdings by nearly 12.5% and releasing this amount onto the market, which elevated immediate supply-side pressure. This activity followed continued high network usage, as Solana’s stablecoin supply surpassed $16 billion and development efforts remained focused on decentralized finance and payment applications. In parallel, Solana ecosystem leaders engaged with U.S. lawmakers to promote the CLARITY Act, aiming for enhanced legal protections for open-source contributors and infrastructure developers.

Broad intraday seller control as indicators reinforce resistance barriers

On the hourly chart, SOL/USD trades below the MA-20 at $65.08 and the MA-50 at $66.00, with the MA-200 well above at $101.42. The Ichimoku Kijun line at $65.51 serves as immediate resistance. Momentum readings confirm weak market conditions: MACD remains on a Sell signal, ADX indicates a neutral trend, and RSI stands at 36.44 (Sell). Both CCI and BBP are in oversold territory, while Stoch RSI is neutral and AO reads Sell, collectively reflecting strong intraday seller dominance and a lack of divergence across technical signals.

Downside risks persist as range-bound trading dominates outlook

Over the short term, the typical volatility band is expected between $60.19 and $66.78, reflecting the recent range. Downside risk remains pronounced given the prevailing technical setup, with the probability of further declines much higher than a rebound. If SOL/USD stabilizes, a period of sideways consolidation is likely; a sustained move above $65.51 would be required to signal bullish reversal potential, while a break below support could see the pair targeting $60.19 or even lower.

Anton Kharitonov, expert at Traders Union, sees Solana under significant supply pressure after SOL Strategies’ token sale to meet debt commitments. He notes that despite resilient network usage and stablecoin inflows, technical readings point to strong seller dominance and lack of bullish triggers. Regulatory advocacy offers longer-term hope but does not alter the short-term weak setup. "Unless SOL/USD decisively reclaims $65.51, I remain cautious and expect downside risks to persist."

Earlier, analysts noted that Solana was displaying short-term bullish momentum but remained highly sensitive to institutional flows and broader liquidity conditions. The recent debt-driven token sale by SOL Strategies and persistent technical weakness reinforce downside risk, making immediate support at $60.19 a critical threshold for traders to monitor amid ongoing volatility.

Source of Data: SOL Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.