 ▲ Solana (SOL) / AI-generated image © |
Solana (SOL) has been unable to break free from an eight-week losing streak despite ETF inflows and network “strength,” slipping to the $80 support level and amplifying warning signals over its direction in March.
According to Trading News on February 27 (local time), SOL-USD fell to $81.75, down 5.66% on the day and 31% over the past month. The token has declined 73% from its September 2025 peak of $252, with a 17% drop in February alone, following a 15% decline in January, extending the correction since the start of the year.
The outlet noted that on the three-day chart, a “head and shoulders” pattern confirmed a breakdown signal around January 31 when price fell below the $107 neckline, presenting a measured target of $59. On the daily chart, a descending channel “bear flag” has formed, and if $76.57 fails, a downside target toward $37.88 could open.
The sharp price drop has been attributed to a rapid cooldown in the memecoin sector, which had supported the on-chain economy. Solana’s weekly DEX trading volume plunged 62% in three weeks, from $118.2 billion to $44.5 billion, while the net accumulation indicator for long-term holders fell 92% from its January peak. At the same time, exchange net inflows jumped 40% within 72 hours, suggesting increased sell-side supply.
However, the outlet also highlighted a clear “divergence between price and fundamentals.” Solana spot ETFs recorded net inflows of $43.13 million in the final week of February, marking the highest weekly figure of the month and pushing cumulative net inflows above $932 million. Over the past 30 days, the network processed 2.6 billion transactions, far surpassing Ethereum’s (ETH) 66.7 million, while generating $25 million in fees compared with Ethereum’s $18 million during the same period.
Ultimately, the key variables for March are the defense of the $80 support level and $76.57, the outlet concluded. The $80 level has been repeatedly tested, weakening its support strength, and if $76.57 breaks, selling pressure could intensify toward the $59 range. Conversely, for a rebound to materialize, price would need to break through short-term resistance and reclaim the neckline area.
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