Solana Price Forecast: SOL declines amid bearish signals, blockchain remains stable under DDoS attack

Source Fxstreet
  • Solana drops over 1% on Tuesday, risking the $126 support level with the third straight bearish candle.
  • The Solana blockchain remains stable amid an ongoing DDoS attack reaching 6 Tbps, with no signs of technical delays or disruptions.
  • Derivatives data flashes bearish signal as SOL futures Open Interest and funding rate decline.

Solana (SOL) remains under bearish pressure, extending its decline for the third consecutive day with over 1% loss at press time on Tuesday. An ongoing Distributed Denial of Service (DDoS) attack on the Solana blockchain, peaking at 6Tbps, remains ineffective so far but continues to add pressure on traders’ sentiment. Additionally, the derivatives market sentiment is bearish, as Open Interest falls and funding rates turn negative.

Solana blockchain unfazed by DDoS attack 

The Solana blockchain has held strong amid an ongoing DDoS attack over the past week, peaking at 6 Terabytes per Second (Tbps) and transferring over billions of packets per second. Typically, a DDoS attack attempts to crash an application by overwhelming it with requests. 

Solana’s resilience amid one of the largest DDoS attacks in history and the Amazon Web Services (AWS) global outage in October strengthens its position among decentralized blockchains. 

https://x.com/solana_daily/status/2000845856530915520

Solana loses retail strength as selling pressure mounts

Sentiment in the derivatives market surrounding Solana is shifting bearish amid broader pressure in the cryptocurrency market. CoinGlass data shows that SOL futures Open Interest (OI) is down 3.62% over the last 24 hours to $7.04 billion, indicating a reduction in the notional value of active Solana perpetual contracts. 

Along the same lines, the OI-weighted funding rate of -0.0078% indicates intense selling pressure, as bears are paying a premium to hold short positions. 

SOL derivatives data. Source: CoinGlass
SOL derivatives data. Source: CoinGlass

Technical outlook: Will Solana extend its correction below $100?

Solana trades near the $126 support level, marked by the June 22 low, that has held multiple price drops in November. The ongoing bearish streak in SOL warns of a decisive close below this level to confirm the downside breakout. 

In such a case, the high-speed blockchain token risks a steeper correction to the S1 Pivot Point at $107, then to the $100 mark, and finally to the S2 Pivot Point at $80. 

Solana is struggling under rising bearish pressure, according to the momentum indicators on the daily chart. The Relative Strength Index (RSI) at 37 continues to decline, approaching the oversold boundary at 30. 

Meanwhile, the Moving Average Convergence Divergence (MACD) line converges with the signal line, threatening a crossover that would confirm a rise in bearish momentum. The rise of a red histogram bar below the zero line would confirm the bearish crossover in the MACD indicator.

SOL/USDT daily price chart.
SOL/USDT daily price chart.

Still, a potential bounce back in SOL from $126 could aim for the declining 50-day Exponential Moving Average at $147.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Bitcoin has dropped back below $88,000 after rolling over from $90,500, with price still trading under the 100-hour Simple Moving Average. The sell-off found a floor at $85,151, and BTC is now consolidating near that base, but rebounds are facing pressure from a bearish trend line around $89,000. Bulls need to retake $88,000–$89,000 to ease downside risk; failure to do so keeps $85,500–$85,000 and then $83,500 in play, with $80,000 as the deeper “line in the sand.” Bitcoin (BTC) is back in damage-control mode after a sharp pullback wiped out recent gains. The price failed to reclaim the $90,000–$90,500 band, rolled over, and slid through $88,500 before briefly dipping under $87,000. Buyers did show up around $85,000, but the rebound so far looks more like stabilization than a clear trend reversal. Bitcoin dips hard, finds a bid near $85,000(h3) BTC’s latest move lower began when it couldn’t build follow-through above $90,000 and $90,500. Once that upside stalled, sellers took control and pushed price down through $88,500. The slide accelerated enough to spike below $87,000, but the market didn’t free-fall. Bulls defended the $85,000 zone, printing a low at $85,151. Since then, Bitcoin has been consolidating below the 23.6% Fibonacci retracement of the drop from the $93,560 swing high to the $85,151 low — a clue that the bounce is still shallow and that sellers haven’t fully backed off yet. Structurally, BTC is still on the back foot: It’s trading below $88,000, and It remains below the 100-hour Simple Moving Average, keeping short-term trend pressure pointed downward. Resistance is layered, and $89,000 is the problem area(h3) If bulls try to turn this into a recovery, they’ll have to climb through multiple ceilings in quick succession. First, BTC faces resistance around $87,150, followed by a more meaningful barrier near $87,500. From there, the market’s attention snaps back to $88,000 — the level BTC just lost and now needs to reclaim. A close back above $88,000 would improve the tone, but it doesn’t solve the bigger issue: there’s a bearish trend line on the hourly BTC/USD chart (Kraken feed) with resistance near $89,000, which also lines up with the next technical hurdle. If BTC can push through $89,000 and hold, the rebound could extend toward $90,000, with follow-through targets at $91,000 and $91,500. But until price clears that $88,000–$89,000 zone, rallies are at risk of being sold rather than chased. If BTC fails to reclaim resistance, the downside path is clear(h3) The near-term bear case is simple: if Bitcoin can’t climb back above the $87,000 area and keep traction, sellers may attempt another leg lower. Support levels line up like this: Immediate support: $85,500 First major support: $85,000 Next support: $83,500 Then $82,500 in the near term Below that, the major “don’t break this” level is still $80,000. If BTC slips under $80,000, the risk of acceleration to the downside increases significantly — not because it’s magic, but because it’s the kind of psychological and structural level that tends to trigger forced de-risking. Indicators: momentum still leans bearish(h3) The intraday indicators aren’t offering much comfort yet: Hourly MACD is losing pace in the bearish zone. Hourly RSI remains below 50, suggesting sellers still have the upper hand on short timeframes. So while the $85,000 defense held for now, the market hasn’t flipped bullish — it’s just stopped bleeding.
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