Solana Hit by a Perfect Storm as Retail Investors Cry Out "It Could Fall to $50"
Solana Hit by a Perfect Storm as Retail Investors Cry Out "It Could Fall to $50"
Solana (SOL) plunged more than 5% to settle around the $82 level as market-wide risk-averse sentiment combined with a breakdown of key technical support. Analysts say the decline has been exacerbated by an accelerating “money move,” in which investment funds are flowing out of altcoins and into perceived safe-haven assets such as Bitcoin.
According to CoinMarketCap on February 11 (local time), Solana traded at $82.51, down 5.31% over the past 24 hours, underperforming the broader market amid an overall downturn. While the total market capitalization of altcoins fell 2.25%, the Altcoin Season Index stood at 27, signaling a Bitcoin-dominated market phase known as a “Bitcoin season.” Meanwhile, the Fear and Greed Index dropped to 10, entering the “extreme fear” zone and encouraging defensive capital flows.
Technical indicators are also clearly pointing to a bearish phase. Solana definitively confirmed downward momentum by breaking below the $85.71 level, the 78.6% Fibonacci retracement that had been regarded as a key support zone. The current price is well below the $88.09 seven-day simple moving average, which reflects the short-term trend, raising concerns about further downside.
Investor sentiment has also frozen, with Solana-related sentiment scores on social media hovering at just 4.8 out of 10, indicating dominant net-selling pressure. Pessimism is spreading among investors, fueled by fears of large unrealized losses and expectations that the price could fall further into the $50 to $70 range. However, as the Relative Strength Index stands at 29.49—within oversold territory—there remains room for a short-term rebound if accompanied by a sharp increase in trading volume.
Looking ahead, the price outlook hinges on whether the previous low support at $68.69 holds. Experts suggest that if Solana manages to defend this level, it could form a base around $70 and attempt a recovery toward the $88 area, near the seven-day simple moving average. Conversely, they warn that if the $68.69 support breaks and the daily candle closes below it, a sharp price correction toward the $50–$60 range could follow.
Ultimately, Solana is confronting a “perfect storm” of sector-wide capital outflows, technical breakdowns, and deteriorating investor sentiment. Downward pressure is expected to persist until market fear subsides and Bitcoin dominance peaks, allowing capital to rotate back into altcoins. Reclaiming the $88 level would be the first signal of trend stabilization.
*Disclaimer: This article is for investment reference only, and no responsibility is taken for investment losses based on it. The content should be interpreted solely for informational purposes.*
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