Solana Risks Drop to $48 if Daily Close Falls Below $80

Solana could fall toward $48 if it posts a daily close below $80 (00:00 UTC), Cointelegraph reports. Technical analysis shows a confirmed head-and-shoulders pattern on weekly charts, with immediate support at $80, a primary zone at $50 to $60, and a worst-case target at $48; the $80 level aligns with previous resistance-turned-support, Fibonacci retracement levels, and volume profile valleys. On-chain metrics present mixed signals: the MVRV ratio is approaching historical lows, daily trading volume exceeds the 30-day average, network activity remains robust despite the price decline, and developer activity is consistent with previous months. Spot Solana ETFs have seen continued inflows since launch, offering regulated exposure that may offset technical selling pressure as institutional participation follows different time horizons than retail.