Solana Sinks with the Climate of Crypto; How Many Pockets Will Weather the Storm?

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Solana, once a glimmering promise, has slipped below the critical $80 fence. In the last twenty-four hours, it has declined a modest six percent – enough to make the seasoned trader feel as if he has stepped into a tenement’s drafty corridor.

The wider crypto streets are shrouded in so-called “Extreme Fear,” as Bitcoin and Ethereum shout their own heartaches at stooping markets. In this smog, even the bravest venture only whispers, “It’s not that bad.”

The plummet has left traders haunted by the spectre of risk; the market’s “watchful eye” now lingers on the crucial level, hoping the price will shrug off this sorrow or, as some pessimists tell them, keep falling like a streetlamp in winter.

$21M Liquidations Adds Pressure on Solana Price

Year 2026, a hard winter for Solana – it wailed by a staggering 53%, dropping from a once lofty $148.21. Ever the unreliable friend, it now plummets to $77 after refusing to grace the higher peak of last week’s $91.

Like a gambler who turned in his shoes for a bandit’s collar, Solana’s decline has forced traders who anticipated an upturn to swallow their positions, lighting the way for a total of $21.31 million liquidated in the past day, of which nearly $19.48 million sank for long positions.

Whale Sells $3.9 Million Worth of Solana

And then the great whale – named Whale31o3cj, which fans call the elegant leviathan of the market – sold 50,000 SOL, worth roughly $3.91 million at $78.27, sending a ripple through the seas.

Adding to the flood, the same whale swapped 44,805 SOL, worth about $3.5 million, for 676.27 XAUT – a gold-backed digital drachma, appeasing the belly that had grown too full of Solana’s fish.

The transaction says full: the leviathans no longer see Solana as a safe harbor. They’re navigating toward the sturdier ships of silver and gold.

Next Key Support Level To Watch: $70

Solana’s weekly chart drips an absurd Elliott Wave pattern. The price can now be found below the key Wave (5) support at $127 – a herald of the finished bullish lull, a new siren warning of a bearish tide. It has come together with a swarming flock of mothers with loud shouts of “I will sell.”

After breaking Wave (5), the price froze fast toward the $80 zone, the cold draft of sharp selling pressure spiraling out of control.


Look ahead; the next support bent at $70 waits, grinning as if a stake to a finch negotiating over a crumb. But should the price claw back above $80, it could’s proclaim that the market has found indulgence, dropping the sentence of the bearish crowd.

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2026-02-23 15:01