Solana loses the $80 support level – Will the price drop to $60 after the Drift Protocol hack?

Under strong selling pressure, SOL has broken the descending flag pattern around the $80 mark, confirming a continuation trend after the accumulation phase. At the time of writing, the price is testing the $78.50 support zone – a key short-term level.

The rejection at $93.26 has caused many investors to become "trapped," creating hidden supply whenever the price rebounds. As the price continues to stay below the broken structure, the market officially enters the post-breakdown phase.

If the $78.50 level cannot hold, the $60 zone is likely to become the next liquidity target.

A major Solana holder accepted a loss of over $4 million after selling 47,401 SOL, amid the exploit incident related to Drift Protocol that sparked market instability and forced many to sell off.

This development clearly reflects the direct impact of exploit risks on price behavior, as SOL dropped 5.85% to $79.26 amid increasing selling pressure. Notably, this address had previously accumulated 91,891 SOL worth a total of $16.04 million at the $175 level, indicating a shift from a holding strategy to a "surrender" stance as market conditions worsened.
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