Solana USD Drops 7.15% Daily: SOLUSD Tests $64.91 Support

Solana USD (SOLUSD) fell 7.15% in a single day, sliding to $67.22 as of June 8, 2026. The cryptocurrency tested its daily low of $64.91, signaling weakness across the broader market. With a market cap of $35.8 billion and trading volume at 50.4 million, SOLUSD faces mounting selling pressure. Technical indicators suggest oversold conditions, presenting both risk and opportunity for traders monitoring this key digital asset.

Solana USD Price Action and Market Sentiment

SOLUSD dropped sharply from its previous close of $68.79, marking a $1.57 decline in just 24 hours. The daily range stretched from $64.91 to $67.80, showing volatile price discovery. Trading volume reached 50.4 million, exceeding the 30-day average of 65.5 million by a relative volume of 2.24x, indicating strong selling activity.

The 50-day moving average sits at $85.54, while the 200-day average rests at $103.11, both well above current price levels. This gap reveals a significant downtrend over recent months. Year-to-date, SOLUSD has declined 48.68%, though it remains far below its 52-week high of $253.61 set earlier in the cycle.

Solana USD Technical Analysis

The RSI at 20.05 signals extreme oversold conditions, suggesting potential for a bounce or continued capitulation. The MACD histogram at -2.27 remains negative, with the signal line at -2.26, indicating bearish momentum persists. The ADX at 26.41 confirms a strong downtrend is in place, with directional pressure firmly to the downside.

Price currently trades near the Bollinger Band lower level of $66.79, compressing volatility as sellers dominate. Support levels cluster around $64.91 (daily low) and $66.79 (BB lower), while resistance emerges at $71.21 (Keltner Channel upper) and $85.54 (50-day MA). The CCI at -189.62 reinforces oversold extremes, suggesting a mean reversion bounce could occur soon.

Solana USD Price Forecast

Our forecast models project $71.94 by month-end, representing a +6.98% recovery from current levels. Quarterly targets reach $85.05, a +26.54% move that would test the 50-day moving average. Longer-term, the yearly forecast sits at $209.33, implying a +211.16% rally if macro conditions stabilize.

Three-year projections suggest $268.51, while five-year models target $327.57. These forecasts assume market recovery and reduced regulatory headwinds. Forecasts may change due to market conditions, regulations, or unexpected events. Track view on Meyka for real-time data and updated price targets.

Market Sentiment: Trading Activity and Liquidations

The 2.24x relative volume spike indicates institutional and retail traders are actively exiting positions. Money Flow Index at 32.40 suggests weak buying pressure, with sellers controlling order flow. On-Balance Volume at 12.9 billion shows cumulative selling has intensified over recent sessions.

Liquidation data reveals significant long positions were closed as SOLUSD broke below key support levels. The Williams %R at -91.92 confirms extreme bearish sentiment. However, such extreme readings often precede sharp reversals, as forced selling exhausts available sellers. Traders should monitor the $64.91 support level closely for potential capitulation signals.

Final Thoughts

Solana USD faces intense selling pressure with a 7.15% daily decline and oversold technical readings. While the RSI at 20 and CCI at -189.62 suggest a bounce may be imminent, the strong downtrend (ADX 26.41) warns caution. Monthly forecasts target $71.94, but traders must respect support at $64.91 and watch for capitulation volume before committing capital. Meyka AI grades SOLUSD based on technical strength and market structure, helping investors navigate this volatile period.

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Disclaimer:

Cryptocurrency markets are highly volatile. This content is for informational purposes only. The Forecast Prediction Model is provided for informational purposes only and should not be considered financial advice. Meyka AI PTY LTD provides market data and sentiment analysis, not financial advice. Always do your own research and consider consulting a licensed financial advisor before making investment decisions.