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Solana drops below $63 amid institutional selling and bearish technical signals, risking further decline.

Market News
06 Jun 2026
Tokenpost
View Source
Bearish
pluang ai news

Solana's price fell to around $62.90, down 4.7% in 24 hours and nearly 30% over the past month, pressured by large institutional transfers to exchanges signaling potential selling. Technical indicators show SOL breaking below key moving averages and exiting its $80–$90 consolidation range, suggesting a bearish trend with immediate support at $63–$65. If this support fails, prices could slide to the mid-$50s or lower. Despite short-term weakness, upcoming network upgrades like the Firedancer validator client offer a potential long-term positive for Solana's performance and resilience.

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