Solana Price Prediction: Head and Shoulders Breakdown Meets ETF Buzz as $80 or $200 Looms

Solana is under pressure after confirming a head and shoulders breakdown, with key EMAs lost and liquidation risks building around the $131 level.

SOL Solana price is starting to crack under pressure, and the latest price action has caught the attention. After weeks of holding key support, the SOL chart has now confirmed a head and shoulders breakdown. With volume rising and moving averages turning lower, participants are now eyeing deeper downside targets, if bulls don’t step in soon.

Solana Confirms Head and Shoulders Breakdown

Solana has just cracked below a major support level, and the setup looks textbook bearish. The chart from Nebraskangooner highlights a clean head and shoulders formation, now confirmed with the price slipping under the $142 neckline. This structure has been forming since April, and the recent candle close under the neckline confirms the bearish breakdown.

Solana confirms head and shoulders breakdown as price slips below the $142 neckline, signaling a potential move toward $120. Source: Nebraskangooner via X

The measured move from the pattern points to a potential downside target near $120, possibly even lower if market momentum weakens further. Volume has picked up during the breakdown, which adds conviction to the move. Solana’s uptrend from early Q1 now faces its first real structural challenge, and until buyers can reclaim $145–$150 with authority, short-term pressure may remain tilted to the downside.

Solana Slips Below EMA 12/25 Combo

Solana has now lost its 12/25 weekly EMAs, a critical threshold that has historically defined major market shifts for $SOL. Trader XO’s macro chart shows a clear rejection at these moving averages, with price rolling over into what looks like a renewed bearish phase. With both EMAs curling down and price settling below them, the broader structure leans bearish.

Solana loses key 12/25 weekly EMAs, with Trader XO warning of a possible drop toward $80 amid growing bearish momentum. Source: Trader XO via X

Famous crypto analyst, Trader_XO, believes that the Solana price is likely to drop lower towards the $80 mark. The weekly chart suggests the market remains in a “prove it” mode, and buyers need to show strength to shift the trend back in their favor.

Solana Daily Structure Flashes More Weakness

After the head and shoulders confirmation and EMAs tilting lower, Solana’s daily chart now aligns with the other bearish triggers. As highlighted by a famous analyst, Scott Melker, SOL has now broken key support, retested it as resistance, and rolled over, a textbook bearish retest.

Other than weekly 12/25, now daily based EMA’s 50 and 200 are now curling downward, which reinforces the idea that medium-term trend momentum is slipping away from bulls.

Solana shows a bearish daily retest as Scott Melker highlights key support flip, with EMA 50/200 now tilting downward. Source: Scott Melker via X

Structurally, this adds to the broader weakness already flagged on higher timeframes. Unless buyers can push price back above the $142 to $145 zone and reclaim the moving average stack, the path of least resistance remains to the downside. If that reclaim doesn’t happen soon, eyes could shift toward $120 or even lower.

Liquidation Cluster Sits at $131

Solana continues to slide, and now the liquidation heatmap adds another layer to the short-term picture. According to Jesse Peralta, a cluster of leveraged positions is stacked around the $131 level, roughly $124K worth of potential liquidations. That makes it an important mark if selling pressure continues.

Solana’s liquidation heatmap reveals a $131 cluster, with $124K in potential liquidations that could trigger a sharp drop. Source: Jesse Peralta via X

Looking at the heatmap, there’s an obvious density of liquidation lines just below the current price, indicating late long positions are still hanging on. If those get flushed, it might provide the fuel for a quick wick toward the $128 to $130 range.

Combined with the recent head and shoulders breakdown and Solana trading below key EMAs, this heatmap adds more weight to the short-term bearish bias.

Contrary View: ETF Could Turn Events Back In Bullish Favors

While Solana’s chart has taken a bearish turn recently, there’s a growing narrative that could flip sentiment fast: staking ETF approval. Rumors are emerging, and crypto analyst MartiniGuyYT has hinted that both ETH and SOL staking ETFs might be greenlit as early as June. Cipher X adds fuel to the discussion, suggesting there’s an 80% chance of ETF approval by July. If that materializes, Solana could get a turn in events favoring bulls.

Crypto analyst Cipher X is eyeing the $138 to $140 range as crucial support. The chart shows a potential ABC retracement with a bounce from this level targeting $190 to $200 in the coming weeks. If support fails, price could take a dip near $130.

ABC bounce eyeing $190 to $200 levels, meanwhile, failure may open downside toward $130. Source: Cipher X via X

Final Thoughts

ETF headlines have the power to override any bearish developments. While Solana’s technical picture has broken down, with head and shoulders patterns, falling EMAs, and liquidation clusters building, there’s still a wildcard for bulls on the table. If the SOL staking ETF rumors turn out to be true, that could improve the deteriorating sentiment for the bulls and lead to a positive price impact.