Key takeaways Solana faces potential 20% decline toward $80 support Bearish chart pattern threatens crucial $100 price level ETF withdrawals continue despite growing blockchain adoption Solan
Solana is approaching a potentially decisive breakdown, with SOL trading around $100 on October 27 as a bearish technical pattern raises the possibility of another 20% decline toward $80.
The cryptocurrency has lost approximately 14% during October, underperforming Bitcoin, Ethereum and XRP over the same period. SOL briefly dipped below $100 during recent trading, threatening a support level that has repeatedly attracted buyers.
Solana's $100 Support Faces a Major Technical TestThe potential head-and-shoulders structure began forming in August, when SOL established its left shoulder near $111.
A subsequent rally carried Solana toward $125 in late September, creating the pattern's head. The right shoulder was projected around $115, while the neckline emerged near $100.
A decisive daily close beneath that neckline, particularly with increased selling volume, would strengthen the technical case for a decline toward $80.
The latest market weakness reinforces concerns already visible during Solana's September support tests, when analysts identified $80–$85 as a possible downside zone.
However, $100 is not the only level buyers need to defend.
Recent technical analysis highlights support near $98, followed by approximately $93-$96. A breakdown through those areas could expose the longer-term moving average around $88 before the market reaches $80.
Solana's earlier recovery above $100 shows why traders consider this region important, but previous rebounds do not guarantee another recovery.
Solana ETFs Lose Money Despite Growing Network AdoptionInstitutional demand has weakened alongside SOL's price.
US-listed Solana ETFs recorded approximately $17.3 million in net withdrawals during the previous week, extending their outflow streak to three consecutive weeks.
A separate October 26 ETF-flow snapshot indicated another $8.2 million in redemptions, although that figure was preliminary because two funds had not yet reported.
The reversal contrasts with Solana's earlier ETF expansion, when international listings broadened institutional access even as American products began experiencing withdrawals.
Meanwhile, Solana's underlying network continues expanding.
The number of addresses holding tokenized equities recently reached 1.5 million, approximately five times the August level.
However, wallet addresses do not necessarily represent unique investors, and tokenized-stock adoption does not automatically translate into comparable SOL buying.
The network also recently activated its Alpenglow upgrade, targeting transaction finality of approximately 150 milliseconds.
These improvements strengthen Solana's infrastructure narrative without eliminating short-term market risks.
Solana Price Prediction: $80 Crash or $115 Recovery?The bearish scenario depends on SOL losing $100 and failing to recover above the $97–$98 support region.
A sustained breakdown could bring $93-$96 into focus, followed by approximately $88 and the $80 technical target.
For buyers, reclaiming $105-$110 would represent an initial improvement, while a move above $115 could weaken the head-and-shoulders scenario.
A stronger breakout above $125-$130 would challenge the bearish outlook more substantially.
The downside forecast contrasts with Standard Chartered's $250 year-end target, illustrating the difference between short-term technical risk and longer-term institutional expectations.
