Solana (SOL) has fallen sharply after breaking below the $120 support level, raising concerns about further losses. The token dropped around 13% over the past week, making it one of the weakest performers among the top ten cryptocurrencies.
Data from CoinGecko shows Solana is now nearly 60% below its all-time high of $293 and down about 40% so far this year. Analysts warn the price could soon test the $100 level, last seen in April. Market commentator EddieTradezz highlighted a bearish “head and shoulders” pattern, while another analyst, ColdBloodShill, suggested Solana could fall as low as $80 if selling pressure continues.
Despite the bearish outlook, institutional interest has increased. US-listed Solana ETFs recorded $63.9 million in net inflows over the past week. However, heavy selling in spot markets and rising liquidations have so far limited any price recovery, as the broader crypto market remains under pressure.
Patos Gains Attention Amid Market Weakness
Alongside institutional adoption, new projects continue to launch on the Solana network. Patos (PATOS), a Solana-based meme coin, is currently holding a public presale.
The project says it has seen strong early participation and allows purchases using SOL, USDT, and USDC. The activity points to continued retail interest in Solana-based tokens, despite ongoing volatility in the broader cryptocurrency market.
