SOL has fallen below $80, adding fresh pressure to its short-term price structure. The decline extends Solana’s monthly losing streak to eight straight months, the longest uninterrupted run of monthly losses in the network’s history. Since the start of 2026, SOL has lost 36.4%, compared with a 33.5% decline in Ethereum over the same period.
An eight-month losing streak puts Solana under heavier pressure
Solana has long been promoted as a high-throughput Layer 1 alternative to Ethereum, but recent price action shows the token has not been shielded from broad market selling. Over the last seven days, SOL is down 9.23%. Over six months, the loss widens to 46.63%, and the token is down 38.05% so far in 2026. The longer view still looks different: across the last five years, SOL remains up nearly 149.62%.
ETF outflows and a sharp drop in DEX activity add to the pressure
In the United States, spot Bitcoin exchange-traded products recorded $1.42 billion in net outflows in the week ending May 29. That pushed the streak of institutional-level selling pressure to 11 consecutive trading days. Traders often read this kind of flow data as a sign that capital is leaving the crypto sector. Between May 26 and May 29, Bitcoin funds lost $1.42 billion, Ethereum funds saw $242 million in outflows, while Solana products posted a modest $1 million inflow.
On-chain activity also weakened. During the second half of May, weekly decentralized exchange volume on Solana dropped from $104.3 billion to $18.8 billion, an 82% collapse. The slowdown in meme token trading was identified as a major driver behind the decline. Daily active wallet addresses have held near 2.1 million, keeping Solana in third place among Layer 1 networks by interaction metrics, yet the network’s economic output remains soft. Over the past year, total fees reached $317.6 million, and only $39.1 million of that became protocol revenue. Solana’s market capitalization now stands at $44.58 billion.
Below $80, traders are watching the $75 to $78 zone closely
From a technical perspective, losing the $80 support level is viewed as a clear deterioration in the short-term setup. Once support breaks on the way down, it often turns into resistance during recovery attempts. TradingView signals show exponential moving averages from the 10-period through the 200-period range all flashing sell signals.
The Relative Strength Index stands at 29.38, placing SOL in oversold territory, though that alone does not imply an immediate rebound during a strong downtrend. In derivatives, aggregate futures open interest has fallen to $5.48 billion, while funding rates are close to neutral at -0.0025%. That points to a market without a major leverage imbalance, reducing the odds of a sharp recovery driven by a short squeeze.
Technical analyst CryptoBullet described the current setup as a significant breakdown and said the $50 area could come into focus as early as July if momentum remains negative. In the near term, failure to hold the $75 to $78 range would leave $70 as the next downside level. For a stronger recovery to take shape, SOL would need to reclaim $80 first and then clear resistance at $85.