Solana SOL Price Plummets to $60 Amid Bearish Pressure
Solana's SOL token has been impacted by intense bearish pressure since late September 2025, causing its price to drop from around $250. By early 2026, the market entered a range-bound consolidation phase after rebounding off the lower boundary of a falling wedge pattern in mid-February.
Although breakout attempts in March and May were rejected at the key $97 resistance level, SOL's price eventually fell to a low of $60 by early June. However, this low sparked a sudden wave of demand, leading to a late-June recovery back toward the $80, $82 resistance zone.
To reverse its cautious outlook, buyers must establish a firm support floor above the $80 mark in August. If they succeed, SOL could target the pivotal $97 resistance and potentially attempt a broader breakout toward $120. Conversely, if the bulls fail to hold their ground, a breakdown could force SOL into the $50, $55 demand pool.