Solana – Why SOL could fall to $50 after breaking THIS key support
Solana remained under pressure despite posting a 2.65% daily gain. Ongoing geopolitical tensions, a key technical breakdown, and fresh token unstaking activity continued to weigh on sentiment. At press time, $SOL traded at $65.40, up 2.65% over the past 24 hours. Trading Volume also climbed 25% to $2.98 billion, reflecting renewed market activity. Could Solana fall another 22%? Despite the rebound, $SOLs daily chart continued to flash bearish signals. The altcoin recently broke below the multi-year support level at $76.25. The current recovery appeared to be a relief bounce rather than a trend reversal. Source: TradingView Based on current price action, $SOL could decline toward $50 if it remains below $76.25. That would represent a further 22% drop from current levels. However, a sustained move back above $76.25 could invalidate this bearish outlook. Technical indicators also supported the downtrend. The Average Directional Index (ADX) climbed to 46, signaling that a strong trend remained in place. That left investors watching on-chain activity for additional clues. Why are investors watching FTX again? According to Lookonchain, the defunct FTX and Alameda Research unstaked 200,241 $SOL worth $12.99 million. The move was likely tied to ongoing creditor repayments. Historically, FTX-related $SOL unstaking events have often been followed by token distributions, increasing supply in the market. On top