Will Solana price slide to $50 next as whales cut exposure?

Solana worth has fallen to a multi-year low as a serious company holder moved $31.9 million value of SOL to Coinbase Prime, including to fears that whales are decreasing publicity in the course of the market selloff.

In accordance with knowledge from crypto.information, Solana (SOL) traded close to $62 on June 6 after briefly falling to the $60 space. The token has misplaced roughly 24% over the previous week, greater than 30% over the previous month, and about 50% for the reason that begin of the yr as merchants continued decreasing publicity to danger belongings amid a broader crypto market selloff.

Massive holders have added to considerations concerning the market’s outlook. In accordance with blockchain analytics platform Lookonchain, Ahead Industries transferred 455,784 SOL value roughly $31.9 million to Coinbase Prime after a month of inactivity.

Since adopting a Solana treasury technique in September 2025, the corporate has spent roughly $1.59 billion buying 6.83 million SOL at a median worth of $232. Lookonchain estimates these holdings at the moment are value about $458.6 million.

The switch doesn’t verify an outright sale, however merchants continuously monitor deposits to institutional buying and selling venues for indicators that giant buyers could also be making ready to scale back positions. The transaction arrived as SOL traded close to its lowest ranges since 2024 and bolstered considerations that different treasury holders may additionally transfer to guard capital if market situations worsen.

Derivatives markets have already undergone a pointy deleveraging occasion. CoinGlass knowledge reveals greater than $1.5 billion in crypto positions have been liquidated over the previous day, with lengthy merchants accounting for many of the losses. Solana absorbed a major share of the harm as leveraged bullish positions have been compelled to shut right into a falling market.

Institutional demand has additionally weakened. SoSoValue knowledge confirmed that U.S. spot Solana ETFs recorded web outflows after a number of weeks of inflows. The reversal got here as buyers reassessed publicity to digital belongings following Bitcoin’s decline under the important thing $60,000 assist degree.

Outdoors crypto, monetary markets have turn into more and more defensive. A stronger-than-expected U.S. jobs report decreased expectations for Federal Reserve fee cuts, whereas renewed geopolitical tensions within the Center East pushed oil costs larger and revived inflation considerations.

Rising Treasury yields prompted one other rotation away from speculative belongings, weighing on altcoins throughout the market.

Solana approaches a crucial long-term assist zone

The weekly chart reveals Solana testing a serious assist space close to $51.5 after months of persistent promoting strain. The extent served as an necessary breakout zone throughout late 2023 and now represents probably the most vital assist remaining on the higher-timeframe chart.

Development indicators proceed to favor sellers. Solana stays effectively under its main shifting averages, whereas the weekly MACD sits beneath the zero line with each MACD and sign traces nonetheless trending decrease. Aroon indicators additionally stay bearish, with the Aroon Down studying returning to 100 and the Aroon Up trailing beneath it.

Commenting on the bearish market setup, crypto analyst Jack Adams argued that Solana might revisit decrease ranges earlier than discovering a sturdy backside.

“I’m nearly sure $SOL is heading again to retest $67-$58 as soon as extra earlier than reversing into $120-$175 this yr.”

In accordance with the analyst, earlier demand zones between $58 and $67 may appeal to longer-term consumers regardless of the continuing market weak point.

Weak assist under present ranges raises $50 danger

CoinGlass liquidation heatmap knowledge identifies the biggest focus of leveraged positions between $70 and $75, with a very dense cluster close to $74. These ranges may appeal to worth throughout any reduction rally, though they now signify vital resistance after the current breakdown.

Beneath the market, liquidity turns into noticeably thinner. The heatmap reveals comparatively restricted assist beneath the current lows in contrast with the massive focus of positions overhead, growing the danger of an accelerated transfer if sellers pressure one other breakdown.

A decisive breakdown under the $51.5 assist zone may expose Solana to the psychological $50 degree. Because the chart reveals restricted historic buying and selling exercise beneath that space, sellers may try and pressure a deeper transfer if market situations stay unfavorable.

Any bullish restoration would seemingly require SOL to reclaim the previous assist space close to $70 earlier than difficult the heavy liquidation cluster between $74 and $75.

For now, company treasury transfers, ETF outflows, aggressive derivatives liquidations, and unfavorable macro situations proceed to maintain strain available on the market, leaving the $50 degree firmly on merchants’ radar.