Solana USD Plunges 7.15% Daily: SOLUSD Tests $61.91 Support

Solana USD (SOLUSD) experienced a sharp pullback on June 7, 2026, declining 7.15% in a single day to trade at $64.88. The cryptocurrency fell from its previous close of $68.79, hitting a daily low of $61.91. This decline reflects broader market weakness affecting large-cap digital assets. We examine the technical setup, market sentiment, and what traders should watch next.

Solana USD Technical Analysis

SOLUSD shows extreme oversold conditions with the Relative Strength Index (RSI) at 20.05, well below the 30 threshold that signals capitulation. The MACD histogram stands at -2.27, indicating bearish momentum as the signal line remains negative at -2.26.

The ADX reading of 26.41 confirms a strong downtrend is in place. Price currently trades near the Bollinger Bands lower band at $66.79, suggesting potential support. The upper band sits at $99.73, representing significant resistance above current levels.

Market Sentiment and Trading Activity

Trading volume reached 47.6 million against an average of 65.5 million, showing reduced participation during the decline. The relative volume of 2.24x indicates elevated activity relative to typical daily flows, suggesting institutional selling pressure.

Liquidation data shows the Money Flow Index (MFI) at 32.40, confirming weak buying interest. The Williams %R indicator at -91.92 reflects extreme bearish sentiment among traders positioning for further downside.

Solana USD Price Forecast

Our price targets for SOLUSD are as follows: Monthly forecast of $71.94 represents a 10.9% upside from current levels. The quarterly target stands at $85.05, implying a 31.1% recovery over three months.

Longer-term, the yearly forecast reaches $209.33, suggesting a 222.6% gain if realized. Five-year projections target $327.57, indicating substantial appreciation potential. Forecasts may change due to market conditions, regulations, or unexpected events.

Key Support and Resistance Levels

The $61.91 daily low now serves as critical support, with the 52-week low at $63.03 providing a secondary floor. Breaking below $61.91 could trigger further liquidations toward the Bollinger Bands lower band at $66.79.

Resistance emerges at the 50-day moving average of $85.54 and the 200-day average at $103.11. The year-to-date decline of 48.68% reflects sustained selling pressure, though the 3-year gain of 219% shows long-term strength. Track view on Meyka for real-time technical updates and price alerts.

Final Thoughts

Solana USD faces significant headwinds with oversold RSI and strong downtrend confirmation via ADX. The $61.91 support level is critical; a break below could accelerate losses. However, monthly forecasts suggest potential recovery to $71.94, offering risk-reward opportunities for contrarian traders. Monitor volume and RSI divergence for reversal signals.

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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.