Solana price structure has definitively changed, setting a measured downside target near $42. This is due to strong short-term selling and institutional outflows, making the setup relevant for both traders and institutional holders.
Solana (SOL) is part of a broader weakness in the crypto market, with its price declining and expectations that this trend will continue in the short term. Its price was a slow build that began to emerge in early 2024 and was fully confirmed in early 2026.
Its all-time high was $293 in January 2025, although as the months passed, Solana’s charts began to reflect buyer exhaustion. Its key trading zone is between $105 and $120, with a current price of $81, sending a key technical message: a significant support level was turning into resistance.
In this context, several analysts indicated that the theoretical target of the pattern is located near $42. Some even warned that if the intermediate support around $75 fails before then, the pressure could extend towards the $30 zone. Thus, attention focused on these levels as psychological and technical benchmarks for gauging the depth of the correction.
Solana’s Signs of resilience and the immediate future
While the price weakened, capital flows offered mixed signals. On the one hand, Solana-linked ETFs registered net outflows of nearly $18 million between February 9 and 11. Although this figure was lower than the outflows observed in Bitcoin and Ethereum products during those days, it still reflected some institutional caution in the short term.
Furthermore, some companies with large positions in SOL were accumulating significant unrealized losses, which added potential pressure to the market.
However, it wasn’t all negative. Alongside the price decline, network activity showed dynamism: transaction volume grew by around 43% compared to the previous 30 days, exceeding 2.48 billion, and active addresses nearly doubled. These data suggest that, despite the volatility, network usage maintained some momentum, which opened the debate about whether the area near $75 could act as a structural floor.
Ultimately, as of February 12, SOL had accumulated a drop of nearly 42% in one month and had reached a two-year low around $67. Looking ahead to the coming weeks, the scenario will depend on how investors react to these key levels. If the support in the $75 zone holds, it could enable a broader rebound; but if the market loses confidence and breaks below $42, the correction could deepen.
