Can SOL Hold $67.38 As Open Interest Falls 2.05%?

• Solana tests $77.55 as open interest declines 2.05% to $5.09B amid Trump tariff shock pressuring risk assets.
• Only 20% of SOL addresses remain profitable, lowest level since November 2023, as accumulation slows sharply.
• Price breaks below all major EMAs with RSI at 28.12 on weekly chart, approaching deeply oversold territory.

Solana price today trades near $77.55, down 0.12% in the past 4 hours as the token tests critical support levels following President Trump’s tariff increase announcement. The move comes as Glassnode data shows only 20% of Solana addresses remain in profit, the lowest level since November 2023, while long-term holder accumulation has slowed dramatically.

Open Interest Drops As Volume Surges On Selling Pressure

According to Coinglass, Solana’s open interest fell 2.05% to $5.09 billion, while volume surged 50.71% to $8.76 billion. Options volume jumped 33.34% to $8.62 million, signaling traders are positioning for continued volatility.

Long/short ratios show extreme bullish skew at 3.66 on Binance and 3.74 on OKX, indicating leverage remains heavily positioned for recovery despite the selloff. Top trader positioning shows $16.96 million in longs versus $436.26 million in shorts on 12-hour timeframes, a rare short bias among large accounts suggesting they’re positioned for further downside.

When open interest declines while volume surges, it typically indicates forced liquidations rather than organic selling. The extreme long/short ratios suggest the market is positioned for recovery, but price action is moving in the opposite direction, creating conditions for a potential long squeeze if support breaks.

Price Breaks Below All Major EMAs On Weekly Chart

The weekly chart shows Solana has broken below all major moving averages. The 20-week EMA sits at $125.19, the 50-week at $147.70, the 100-week at $146.13, and the 200-week at $117.27. RSI has dropped to 28.12, approaching deeply oversold territory not seen since the 2022 bear market bottom.

The chart shows:

• Clean breakdown below all weekly EMAs
• RSI at 28.12, approaching 2022 bear market lows
• $76.69 support zone under immediate pressure
• Descending trendline from 2025 highs still intact

Solana dropped from above $305 in November 2025 to a low near $67.38, marking a 78% correction. The current consolidation near $77.55 is testing whether the February low holds or if the tariff shock triggers another leg lower toward the $67.38 demand zone.

Related: Cardano Price Prediction: ADA Drops To $0.2625 as Tariff Shock Offsets Grayscale Boost

A weekly close above $117.27 would reclaim the 200-week EMA and signal the first major shift in momentum. Until that happens, the structure remains decisively bearish with sellers defending every bounce attempt. The RSI reading at 28.12 is approaching the 2022 low of 16.84, suggesting the market is approaching capitulation levels.

Only 20% Of Addresses Remain Profitable

According to Glassnode data, the percentage of Solana addresses in profit has dropped to around 20% in February, the lowest level since November 2023. During the previous bear cycle, the metric bottomed at 1.37% on December 28, 2022, suggesting there could be significant downside remaining if history repeats.

The Hodler net position change turned green in January, indicating long-term holders were accumulating. However, the metric has slowed down sharply over the past three weeks. The slowdown came alongside SOL’s slide below $100, reflecting weakened long-term conviction compared to the first half of January.

The combination of deteriorating profitability and weakening accumulation suggests long-term holders are losing confidence. When fewer than 25% of addresses are profitable, it typically indicates the market is in deep bear territory where capitulation becomes more likely. The current reading suggests it may be too early to call the bottom, with analysts warning more pain could be ahead.

4-Hour Chart Shows Critical Support Test

The 4-hour chart reveals Solana testing the $67.38 horizontal support that marked the February low. Supertrend sits at $82.60, now acting as resistance after flipping bearish. Parabolic SAR at $85.54 marks immediate overhead resistance.

The structure shows:

• Price testing February low at $67.38
• Supertrend and SAR both bearish
• $96.00 resistance zone far overhead

Buyers are attempting to defend the $67.38 support for the second time in three weeks. A breakdown below this level would mark a new multi-year low and confirm the bear market is deepening. The combination of weak fundamentals, deteriorating holder profitability, and the Trump tariff shock creates significant pressure on this support zone.

A reclaim of $82.60 would flip the Supertrend bullish and place $85.54 back in range. Without that reversal, price is vulnerable to a breakdown toward $60 or lower if the 20% profitability reading triggers capitulation.

Outlook: Will Solana Go Up?

The next move depends on whether SOL can hold $67.38 and reclaim $82.60.

• Bullish case: A hold above $67.38 with a close above $82.60 would flip the Supertrend and place $96.00 back in range. Reclaiming $117.27 on the weekly chart confirms trend reversal.
• Bearish case: A breakdown below $67.38 exposes $60, with further downside toward the 2022 bear market low near $8 if only 20% profitability triggers mass capitulation. Losing $67.38 marks new multi-year lows.