SOL could fall to $48 if daily close is below $80, analyst says

An analysis suggests that Solana (SOL) is facing increased short-term downward pressure after breaking through several key support levels. Cointelegraph reported that a head-and-shoulders pattern has been confirmed on the weekly chart. The primary support zone is between $50 and $60, but if the daily candle closes below $80, the price could fall further to approximately $48, the analysis noted. However, Cointelegraph also pointed out that the on-chain Market Value to Realized Value (MVRV) band indicates the price is approaching a historical low, suggesting a potential bottom. Additionally, spot SOL ETFs have seen consistent inflows since their launch, which could fuel a short-term rebound.