Solana is trading at $83.97, down sharply as technical indicators and market data suggest the slide isn’t over. The Relative Strength Index has fallen to 42, well into bearish territory, while negative funding rates point to institutional selling. Analysts tracking the charts see a high probability that the token will test the $75 to $78 support zone within the next two weeks.
Why the RSI matters
The Relative Strength Index is a momentum oscillator that measures the speed and change of price movements. A reading below 50 signals bearish momentum, and 42 is deep in that zone. For Solana, that means sellers are in control and buyers haven’t stepped in with enough force to reverse the trend. The last time the RSI was this low, the token dropped another 10% before finding a floor.
Funding rates point to institutional distribution
Negative funding rates in the futures market indicate that traders holding short positions are paying those who are long. That’s typical when professional traders — often institutions — are distributing their holdings. In plain terms, big players are selling, and they’re willing to pay a premium to keep their short bets open. That kind of pressure usually accelerates price declines rather than slowing them.
The technical picture: a broken structure
On the daily chart, Solana has broken below key moving averages and a short-term uptrend line that had held since mid-September. The breakdown was accompanied by higher-than-average volume, which confirms the move is genuine rather than a fake-out. The next major support sits at $75, with a secondary level at $78. If the selling continues at the current pace, the token could reach that zone within two weeks. A close below $75 would open the door to the low $60s, though that scenario isn’t in the immediate forecast.
What the next two weeks look like
With no major catalyst on the horizon — no network upgrade, exchange listing, or macro event — the path of least resistance is lower. The $75-78 zone is where buyers have stepped in during previous pullbacks, but negative funding rates suggest that pattern may not repeat this time. Traders will be watching to see if that level holds or if the distribution that’s underway pushes Solana through it.
