Solana price hits 52-week low of $66 as bearish signals point to more downside

Solana price has dropped more than 27% over the past month and nearly 74% from its 2025 peak, with fresh ETF outflows and a crypto market rout sending the token to a 52-week low.

Solana ( $SOL ) price traded near $68 on June 4 after briefly touching a 52-week low of $66.6. The token was down roughly 17% on the day, 27% over the past month, and nearly 74% from its 2025 high near $258, as a wave of liquidations and risk-off sentiment swept through the crypto market.

Solana’s price downtrend intensified as the cryptocurrency market suffered another sharp sell-off, with Bitcoin slipping toward the $66,000 level and triggering a cascade of liquidations across leveraged positions.

Derivatives markets absorbed much of the damage. CoinGlass data shows more than $1.66 billion was liquidated from the crypto derivatives market over the past 24 hours, including roughly $1.42 billion in long positions. The wipeout forced bullish traders to close positions at market prices, adding fresh downside pressure across major altcoins.

Solana price also fell as institutional sentiment for the token weakened this week. SoSoValue data shows that U.S. spot Solana ETFs recorded $12.7 million in net outflows on June 3, the first day of net redemptions since May. The withdrawal ended a period of steady inflows and arrived as investors reduced exposure to risk assets following the latest market downturn.

Outside crypto, geopolitical tensions in the Middle East continued to weigh on sentiment after renewed military activity increased demand for traditional safe-haven assets.

Rising oil prices and expectations that central banks could maintain restrictive policies for longer added another headwind for speculative markets.

Solana charts confirm a major technical breakdown

The weekly chart shows Solana breaking below the $76.6 support zone that had contained declines for several months. Sellers then pushed the token through the psychological $70 level before SOL price reached the $66.6 area, which now represents the most important near-term support on the chart.

Technical indicators have deteriorated sharply. Solana remains below its Supertrend indicator, which currently sits near $114, leaving the long-term trend firmly bearish. Price also continues to trade well beneath major moving averages that had previously acted as support throughout 2025.

Momentum gauges offer little relief. The weekly MACD remains below the zero line, while both the MACD and signal lines continue to trend lower despite a slight reduction in bearish histogram strength. Until momentum indicators begin to reverse, sellers remain in control of the broader trend.

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