Solana Price News: Technical Setups Indicate Potential Decline Toward $50
Author: Yashu Gola
Published: June 11, 2026
Key Points
- Solana (SOL) is showing signs of a potential decline towards $50 based on two technical setups.
- The token is currently trading around $65, down approximately 35% from its May highs.
- Technical indicators suggest that sellers are in control, with SOL trading below key moving averages.
Technical Analysis
Daily Bear Flag Breakdown
On the daily chart, Solana has broken below a bear flag pattern, which typically indicates a continuation of a downtrend. The price had been consolidating between $79 and $97 after a significant selloff in February. The breakdown below the flag's lower trendline near $79–$80 confirms a bearish continuation setup, with a measured downside target of approximately $51, aligning with a horizontal support zone on the daily chart.
Four-Hour Bearish Pennant
On the four-hour chart, SOL has formed a symmetrical triangle resembling a bearish pennant. A decisive break below this pennant's lower trendline could confirm further downside, with a target near $51.75, which is consistent with the daily bear flag projection.
Market Valuation Insights
Solana's on-chain valuation is also signaling caution. According to Glassnode's MVRV pricing bands, SOL is trading below the 0.8x realized price level, indicating an "extreme low" zone. Historically, SOL has traded below this level only about 5% of the time, suggesting significant market pressure. A similar situation occurred in 2022 when SOL struggled around the same valuation band before experiencing a substantial decline.
Conclusion
While the current technical setups and market conditions suggest a potential decline towards $50, it is important to note that this does not guarantee a similar collapse as seen in previous years. Traders should monitor the $67–$72 resistance area for any signs of a reversal before making decisions.