Solana (SOL) trades near $81.3, on its $80.83 floor. A floor is a price where falls have stopped before.

SOL fell about 1.9% on 12 November. Its relative strength index (RSI) is 22, below the 30 line. The index scores how strongly the price has risen or fallen lately, from 0 to 100. A reading below 30 is often read as a fall that went too fast.

The relative strength index has fallen below 30. Source: Binance SOL/USDT daily prices, to the 12 November daily close, computed by www.altcoinbuzz.io.

The Fall Arrives Right on Solana's Floor

The price is testing a floor at $80.83 that has turned it 8 times since early February, most recently on 4 July. That floor is right at the price now. The nearest ceiling, a price where rises have stopped before, is $83.98, about 3% above.

The Wider Trend Still Points Lower

On the weekly chart, the price has made lower highs and lower lows since the week of 7 April 2025. Each peak sits below the last, and each dip goes below the last dip, the shape of a fall. The 12 November close was the lowest in 30 days. SOL is down about 24% over the past 30 days.

Buyers on Binance futures paid about 2.5 times the past week's average rate to keep their positions open, the highest rate in 90 days. That is the funding rate: what traders on one side pay the other to keep positions open, and when it is positive, buyers pay.

U.S. Solana exchange-traded funds kept losing money, with Farside Investors recording net outflows of $24.2 million on Nov. 6. Outflows were $7.7 million on Nov. 9.

Solana's Floor and Ceiling Decide the Answer

A daily close is the last price of the day. A daily close above $83.98 would put the next level above at $92.50. That level sits about 14% above. A daily close below $80.83 would put the next level below at $76.39. That level sits about 6% below.

A daily close below $80.83 or above $83.98 would settle the test. Source: Binance SOL/USDT daily prices, to the 12 November daily close, computed by www.altcoinbuzz.io.

Two prices would settle it: a daily close above $83.98, or one below $80.83.