Can Solana Defend $67 as Momentum Stays Bearish?

• SOL holds the $67–$70 floor, but a breakdown could expose $62 and $50 next
• Falling open interest near $5B signals leverage reset and reduced liquidation risk
• Exchange flows show weaker selling pressure, hinting at early stabilization near $80

Solana trades near $80 after months of sustained downside pressure that reshaped its broader structure. The token failed to reclaim the $253 cycle high and entered a clear macro decline. Since that rejection, price has printed consistent lower highs and lower lows. 

Consequently, market structure now favors sellers across higher time frames. The breakdown intensified after SOL lost the $138 region, which previously acted as strong support. That level now caps upside attempts and reinforces bearish control.

Key Levels Define the Battlefield

Price now hovers just above the $67–$70 zone, which marks the Fib 0.0 level. This area represents the primary structural floor in the current cycle. 

Bulls must defend this region to prevent deeper losses. A decisive breakdown below $67 could expose $62 quickly. Moreover, the $50 zone stands as broader macro support if capitulation accelerates.

On the upside, SOL faces layered resistance between $95 and $101. This range aligns with a dense EMA cluster and prior breakdown structure. Additionally, $111.5 marks the next recovery hurdle, followed by heavy supply near $138.7. 

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All major moving averages trend downward, confirming persistent bearish momentum. Bollinger Bands continue expanding, which signals ongoing volatility expansion to the downside.

Open Interest Reflects Deleveraging

Derivatives data shows a dramatic reset in speculative positioning. Open interest surged from under $2 billion to above $15 billion during the late-stage rally. That expansion matched SOL’s advance toward the $250–$300 region. 

However, momentum faded and leverage unwound aggressively. Open interest now sits near $5 billion, far below peak levels.

This contraction suggests that traders flushed excessive leverage from the system. Significantly, lower open interest reduces liquidation risk in the short term. Hence, the derivatives market now appears more neutral as participants reassess direction.

Spot Flows Signal Stabilization Attempt

Exchange flow data reveals an earlier phase of heavy distribution. Deep inflow spikes between July and October aligned with sharp downside moves. Sellers dominated that period and drove price lower. However, recent data shows moderation in inflows and more frequent outflows.

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Moreover, the latest sessions recorded modest net positive flows, including an $8.34 million inflow reading. This shift points to short-term stabilization near current levels. However, sustained accumulation must continue to support any meaningful rebound.

Technical Outlook for Solana Price

Key levels remain clearly defined as Solana approaches a decisive phase. Price continues to trade below major moving averages, while structure reflects a broader downtrend. However, compression near macro support suggests volatility could expand soon.

Upside levels: $95–$101 stands as the first resistance cluster. A break above this zone could open the path toward $111.5. Beyond that, $138.7 remains the major supply ceiling that must flip for medium-term bullish momentum.

Downside levels: $67–$70 serves as primary structural support. Below that, $62 marks the next demand zone. A deeper breakdown could expose the broader $50 macro support area.

The technical structure suggests Solana is compressing near its cycle floor after extended downside pressure. Momentum indicators remain weak, yet open interest contraction signals reduced leverage risk. Hence, the market appears less overheated than during prior rallies.

Will Solana Rebound?

Solana’s short-term direction depends on whether buyers can defend the $67–$70 region. Sustained strength above that level could fuel a recovery toward the $95–$111 range. 

However, failure to hold support would confirm continuation of the broader bearish trend. For now, SOL remains in a pivotal zone where confirmation, not speculation, will determine the next major move.

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