Key Insights
- Solana price dropped nearly 19% as sellers tested the $70 region.
- Whale deposits to Binance raised concerns about additional selling pressure.
- Futures liquidations approached $90 million as technical momentum weakened.
Solana price remained under pressure on Nov. 15 after a steep weekly decline brought the token toward $70. TradingView’s Coinbase chart showed a rebound toward $73 after sellers pushed SOL price below $68 during the session. Reported exchange deposits and futures liquidations added to market concerns.
The retreat mattered because spot trading, leveraged positioning, and technical support all showed signs of strain. However, the evidence did not establish a single cause for the decline or confirm further losses.
Solana Price Slides as Trading Volume and Liquidations Rise
CoinGlass historical candles showed SOL price closing near $90 on Nov. 7 before losing ground across subsequent sessions. Its Nov. 14 close stood near $70, placing the token substantially below its early-month trading range. The latest session brought a modest bounce rather than a confirmed recovery.
CoinMarketCap’s Nov. 15 snapshot placed the token’s market capitalization near $43 billion. The platform also recorded roughly $5.8 billion in daily trading volume. Higher activity accompanied sharp price movements, but trading volume alone did not distinguish buying from selling.
The supplied TradingView chart recorded an intraday low of $67.37 and a recovery toward $73.07. Its daily candle showed a gain from the previous close despite SOL’s broader weekly losses. These readings captured a specific Coinbase trading session, not a universal exchange price.
CoinGlass separately showed approximately $90 million in SOL futures liquidations over 24 hours. Long positions represented about 89% of that amount. Those figures indicated that traders positioned for higher prices absorbed most forced closures.
The derivatives platform also measured outstanding futures positions near $4.2 billion, below the preceding day’s level. Negative funding rates showed short sellers paying long holders in perpetual contracts. Together, those readings suggested continuing caution among leveraged traders, rather than an established buying reversal.
Solana Price Chart Identifies $76 Resistance After Support Break
The TradingView chart placed a horizontal level at $76.54, which previously supported several trading periods. SOL subsequently fell beneath that line during November’s selloff. Former support can become resistance when sellers return near a previously defended price.
The chart’s 14-period Relative Strength Index registered 22.11, below the conventional oversold threshold of 30. Its smoothed indicator stood near 26. An oversold reading describes recent momentum; it does not establish that a durable bottom has formed.
Price also retreated from an autumn peak near $125, leaving a sequence of lower highs. The marked chart patterns represented technical interpretations rather than guaranteed forecasts. A short rebound could therefore occur without reversing the larger downward structure.
The nearest observable downside reference was the latest session low, followed by the round-number $60 area. On the upside, reclaiming the broken horizontal level would offer an initial test of buyer strength. Maintaining that recovery across daily closes would provide stronger confirmation than a brief intraday move.
Whale Transfers and Analyst Forecasts Complicate Solana Price Outlook
Blockchain monitoring account Onchain Lens said one whale deposited approximately 435,000 SOL into Binance across five days. It valued those transfers at nearly $33 million. The account also described a recent deposit after unstaking tokens, but independent transaction verification remains outstanding.
Exchange transfers can precede sales, collateral movements or internal portfolio adjustments. Neither the reported destination nor the transfer size proved that the holder sold SOL. The address and transaction history require confirmation before assigning the activity a direct price effect.
Separately, analyst Sweep wrote on X that SOL crypto had revisited a multiyear support trendline. Sweep argued that previous tests preceded rallies exceeding 100%. That historical comparison expressed an analyst interpretation, not a measured probability of another rally.
Crypto Patel identified a potential accumulation range between $50 and $70, plus a lower area around $30. The analyst also outlined far higher long-term targets. Those predictions reflected a personal investment thesis, without evidence establishing a timetable or likelihood.
Solana’s official network status page reported no incidents for Nov. 15. That record offered no indication that a network outage caused the market decline. It also did not explain the trading activity or reported deposits.
The next measurable test is SOL’s response to the $67.37 session low and $76.54 overhead level. A daily close beyond either boundary would provide clearer evidence about short-term direction. Traders should distinguish verified market data from unconfirmed wallet activity and speculative price targets.
This article provides market analysis, not investment advice. Cryptocurrency prices can move sharply, and historical patterns cannot predict returns.
