Solana Price News: Two SOL Technical Setups Hint at Decline Toward $50

Solana (SOL) token may be heading toward $50 next, with at least two technical setups now pointing to deeper downside.

The token was trading near $65 on June 11, down about 35% from its May highs. The latest drop has pushed SOL below key moving averages and damaged its short-term recovery structure, leaving sellers in control across both daily and four-hour timeframes.

SOL Breaks Below Daily Bear Flag

The first bearish signal comes from SOL’s daily chart, where the price has broken below what appears to be a bear flag pattern.

A bear flag forms when the price consolidates inside an upward-sloping channel after a sharp decline. The setup usually signals a pause before the previous downtrend resumes.

SOL had been moving sideways-to-higher inside such a structure between roughly $79 and $97 after its steep February selloff. However, the token has now broken below the flag’s lower trendline near $79–$80, confirming a potential bearish continuation setup.

Based on the flagpole height, the measured downside target sits near $51. That level also aligns with a horizontal support zone visible on the daily chart, making it the key downside area to watch.

SOL also remains below its 20- (green), 50- (red), 100- (purple), and 200-day (blue) exponential moving averages (EMAs), reinforcing the broader bearish bias.

Solana’s Four-Hour Pennant Adds To Downside Risk

The second bearish setup appears on the four-hour chart.

After SOL’s latest vertical drop, the price has started consolidating inside a small symmetrical triangle. That structure resembles a bearish pennant, which often forms before another leg lower.

A decisive break below the pennant’s lower trendline could confirm the continuation pattern. Its measured target also lands near $51.75, almost matching the daily bear flag projection.

In other words, two separate timeframes now point toward the same downside zone.

SOL would need to reclaim the $67–$72 resistance area, including its short-term EMAs, to weaken the bearish setup. Until then, the path of least resistance remains tilted toward $50.

SOL MVRV Band Breakdown Strengthens $50 Bear Case

Solana’s on-chain valuation bands are also flashing a caution signal.

Glassnode’s MVRV pricing bands compare SOL’s market price with its realized price, or the average on-chain cost basis of holders. These bands help estimate where the market has historically reached extreme unrealized profit or loss.

SOL is now weakening below the blue band, which represents the 0.8x realized price level. Historically, SOL’s MVRV has traded below 0.8 during only around 5% of trading days, making it an “extreme low” zone.

That shows the market remains under pressure despite already trading in a historically depressed valuation area.

A similar setup appeared in 2022. SOL struggled near the same blue band around August, close to the $45 area, before extending its decline toward the bear-market low near $9.65.

The current setup does not guarantee a similar collapse. But it supports the bearish technical outlook toward $50 in the coming weeks.