Gate News reports that on March 30, 2026, the price of Solana (SOL) attempted to rebound after a week of declines, but market signals indicate that cautious sentiment remains dominant. Last week, SOL closed down about 5%, reaching a low of $81, and saw a slight recovery of over 2% on Monday. The stock price fell below the ascending support trend line at $88, with the 50-day, 100-day, and 200-day exponential moving averages all above, indicating that the short-term trend remains bearish. The MACD has entered negative territory, and the RSI is at 42, showing a clear advantage for sellers.
Institutional capital flows have also raised concerns. Just last Friday, there was a net outflow of $7.84 million from U.S. spot Solana ETFs, marking the fourth-largest single-day capital outflow in history, while also experiencing net outflows for the third consecutive week. The derivatives market also reflects pessimistic sentiment, with SOL positions being liquidated for $22.98 million in the past 24 hours, of which $19.18 million came from long positions. The negative funding rate of approximately -0.0141% indicates that traders are leaning towards bearish strategies.
Analyst Crypto Patel pointed out that the price of SOL has fallen about 77% from its historical high of $250, with key support and entry ranges between $45 and $75, while the Fibonacci retracement level of $52.11 could serve as a deeper target. Patel believes that prices below $80 could present an accumulation opportunity for long-term holders, with a long-term target price between $500 and $1,000. Short-term analysis from More Crypto Online indicates a support range between $71.91 and $77.91, and if the recent low of $81.44 is breached, the downside target could reach $75.63.
Resistance levels are concentrated between $84.85 and $87.71, with the 50-day moving average at $91.24 creating stronger pressure. The outflows from ETFs and the liquidations in derivatives reflect a wait-and-see attitude among institutional investors. Analysts warn that SOL’s short-term rebound may be limited, but long-term holders should still pay attention to key support ranges.
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