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Solana (SOL) hits eight-month low, breaking $80 support amid steep volume drop and bearish outlook.

Market News
03 Jun 2026
Blockonomi
View Source
Bearish
pluang ai news

Solana (SOL) has seen an unprecedented eight consecutive months of price declines, dropping 36.4% year-to-date in 2026 and recently breaking below the critical $80 support level to reach $75.58. This decline coincides with an 82% plunge in decentralized exchange activity on the Solana network, signaling reduced trading interest. Institutional investors are also pulling back from crypto, with Bitcoin ETFs seeing $1.42 billion in net outflows, which often leads to increased volatility for altcoins like SOL. Technical analysis suggests further downside risk, with potential drops to $70 or even $50 if bearish momentum continues, while a recovery would require regaining $80 and surpassing $85 resistance levels.

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