Solana’s (SOL) price fell 5.8% over the past 24 hours to $85.50 as of May 25, 2026, 06:30 UTC, after repeated rejections from the $100 resistance level have given way to a bearish technical formation that puts the critical $80 support zone in focus.
A head and shoulders pattern, a technical formation that often signals a trend reversal, has become apparent on the daily chart, according to analysis of CoinGecko data. This pattern consists of a peak (the "head" at $100) flanked by two lower peaks (the "shoulders" around $95). The pattern’s "neckline" support is forming near the $80-$82 area, a level that traders are watching closely.
The price weakness for the fifth-largest cryptocurrency by market capitalization reflects a broader market malaise. Bitcoin has been trading in a tight range between $75,000 and $77,000, with the Crypto Fear and Greed Index sinking to 30, indicating "Fear" among market participants. This lack of conviction from the market leader has stalled capital rotation into altcoins, including those in the Solana ecosystem like BONK, which has also seen its momentum fade.
A confirmed break below the $80 neckline support for SOL could trigger a new wave of selling pressure and liquidations, with technical analysts projecting a potential move toward the next support zone near $68. To invalidate the bearish setup, buyers would need to push the price back above the right shoulder's resistance, currently sitting near $95. All eyes are on the Federal Reserve's June 17 meeting, which is expected to set the market's direction for the coming weeks.
This article is for informational purposes only and does not constitute investment advice.
