Will Solana price fall below $80 as bearish flag and double top patterns emerge? 

Solana price remained under pressure after failing to break above the key $98 resistance zone, with multiple bearish chart patterns and weakening derivatives data raising the risk of a deeper correction below the $80 support level.

Summary

• Solana failed to break above the $98 resistance zone, with analysts warning that a breakdown below the $82–$84 support range could trigger a move toward $78.
• Bearish flag and double top patterns emerged across the daily and weekly charts as MACD momentum weakened and RSI lost its upward trend support.
• Solana ETF inflows slowed sharply over recent months while futures open interest dropped from $6.77 billion to $5.45 billion, signaling weakening trader and institutional conviction.

According to data from crypto.news, Solana (SOL) traded around $84 at press time on May 19 after failing to sustain a recent rebound toward the $98 resistance zone. The token has now fallen more than 70% from its 2025 highs near $295, with price action continuing to compress within a narrowing bearish structure.

The latest decline comes as multiple bearish chart patterns begin aligning across both the daily and weekly timeframes, increasing the risk that Solana could revisit the lower end of its multi-month trading range.

On the daily chart, Solana appears to have formed a bearish flag pattern following its sharp breakdown earlier this year. The structure consists of a steep decline followed by a weak upward-sloping consolidation channel, which is typically considered a continuation setup favoring further downside once support breaks.

The token recently failed to break above the upper boundary of that channel near $98 before reversing lower again. A rejection from the top of a bearish flag often signals that sellers remain firmly in control, especially when momentum indicators fail to confirm the attempted breakout.

Crypto analyst Ali Martinez also highlighted the weakening setup in a recent post on X, stating that Solana “failed to break above the top of the channel at $98, which could trigger a retest of the channel bottom near $78.”

That bearish outlook has increasingly gained traction among traders as Solana continues struggling to establish a stronger trend reversal despite several attempts over the past few months.

Another major concern for bulls is the formation of a potential double top pattern on the weekly chart.

The pattern appears to have formed around the $250–$260 zone after Solana failed twice to sustain rallies near its previous cycle highs. A double top is generally viewed as one of the most bearish reversal formations in technical analysis because it signals weakening buyer momentum following repeated failed breakout attempts.

In Solana’s case, the neckline support of that structure already broke earlier this year, confirming the pattern and opening the door for a much deeper correction over the longer term.

At the same time, the weekly Supertrend indicator remains firmly bearish, with resistance now sitting far above current price levels near $123. Until Solana can reclaim that zone, broader market structure is likely to remain tilted toward sellers.

Momentum indicators also continue flashing warning signs. The daily MACD has started turning lower again after briefly attempting a bullish crossover earlier this month. Histogram bars have flipped back into negative territory, suggesting upside momentum may already be fading.

Meanwhile, the Relative Strength Index on the daily chart has slipped below its previous uptrend support. The RSI currently hovers near the neutral 40–45 region, signaling weakening buying pressure without yet reaching oversold conditions.

Popular trader Ted Pillows warned that Solana is now trading near what he described as its “most important level.”

“RSI uptrend has been lost, and now the price needs to hold above the $82-$84 level,” he wrote on X, adding that “a daily close below this won’t be good for Solana.”

That warning has become especially relevant as Solana continues producing lower highs while support levels gradually weaken under repeated retests.

Why are Solana’s ETF flows and derivatives metrics turning bearish?

Beyond technical weakness, several fundamental and derivatives-based indicators are also beginning to deteriorate.

One of the clearest warning signs has emerged from Solana ETF flows.

While spot Solana ETFs still recorded roughly $58.12 million in net weekly inflows recently, institutional demand has slowed significantly compared to earlier periods. Monthly inflows have reportedly declined for six consecutive months, falling from a peak near $419 million in November 2025 to around $38 million in April this year.

That sharp slowdown matters because ETF demand had previously become one of the largest structural support drivers for SOL throughout 2025. Persistent institutional buying helped absorb circulating supply and supported rallies during previous market rebounds.

Now, however, weakening inflows suggest institutions may be becoming more cautious as broader crypto market sentiment deteriorates.

Derivatives activity also reflects growing hesitation among traders. Futures open interest tied to Solana has reportedly fallen from around $6.77 billion to nearly $5.45 billion in recent weeks, signaling that traders are reducing leveraged exposure rather than positioning aggressively for another breakout.

Falling open interest during a declining market often reflects a broader risk-off environment where both speculative demand and trader confidence begin drying up.

At the same time, the long-to-short ratio has slipped below the neutral 1.0 mark to roughly 0.97, suggesting short positions are beginning to outnumber bullish bets. Historically, ratios below one often indicate that traders expect further downside pressure ahead.

That deterioration in derivatives positioning contrasts sharply with earlier periods this year when traders remained heavily net long on SOL despite broader market volatility.

Another factor weighing on sentiment has been the continued slowdown in Solana’s meme coin ecosystem.

Much of Solana’s explosive rally throughout late 2024 and early 2025 was fueled by speculative meme coin activity that drove sharp increases in on-chain trading volumes, decentralized exchange activity, and active addresses.

However, that narrative has gradually cooled over recent months as trader interest rotated toward other sectors and overall speculative appetite weakened.

With fewer viral meme coin launches attracting retail participants, network activity has reportedly softened, making it harder for bulls to justify another rapid push back toward the psychologically important $100 level.

Even so, Solana’s broader ecosystem fundamentals remain relatively strong compared to many competing layer-1 networks.

The blockchain continues processing over 100 million daily transactions while stablecoin settlement volumes remain elevated. Some analysts also argue that long-term institutional adoption trends could eventually stabilize prices if macro conditions improve.

Still, near-term price action suggests traders remain far more focused on technical breakdown risks than on long-term growth narratives.

Can Solana avoid a deeper breakdown below $80?

For bulls, the most important level now appears to be the $80–$82 support zone.

That region has repeatedly acted as a key floor throughout Solana’s recent consolidation phase and roughly aligns with the lower boundary of the current bearish flag structure.

A decisive breakdown below that support could expose the token to a much steeper correction toward the next major support areas near $78 and potentially even $70.

The bearish flag setup itself also projects a downside target roughly equivalent to the height of the previous decline preceding the consolidation pattern. If fully confirmed, that technical projection could place Solana significantly below current prices over the medium term.

At the same time, broader crypto market conditions remain fragile.

Bitcoin continues struggling to maintain momentum above key psychological levels, while rising Treasury yields and persistent macroeconomic uncertainty have pressured risk assets across the board. Altcoins like Solana often experience amplified downside volatility during periods of broader market weakness due to their higher-beta nature.

However, invalidation of the bearish thesis would still remain possible if Solana manages to reclaim the upper boundary of the channel near $98.

A sustained breakout above that level could potentially trigger short covering and revive bullish momentum toward the $110–$120 resistance region. Such a move would likely require stronger ETF inflows, improving derivatives sentiment, and renewed speculative activity across the Solana ecosystem.

For now, though, technical structure, weakening participation, and bearish trader positioning all continue pointing toward elevated downside risk as SOL attempts to defend one of its most critical support zones of the year.