Solana breaks $80: Is the key note at $70?

The collapse of Solana below $80 is not an arbitrary move. A large sale of 50,000 SOL triggered a cascade of liquidations that wiped out over $21.3 million from the market within hours. With the current price at $81.57 and a -5.56% drop in the last 24 hours, every trader’s inevitable question is: where will this correction really end?

Cascading liquidations reveal the fragility of the current level

What many don’t understand is that the $21.3 million in liquidations only represent the tip of the iceberg. When a whale or institution sells such a large position, stop losses triggered in cascade amplify the initial move. This multiplier effect is what turns a controlled sell-off into a market panic.

The punished leverage is the real culprit here. Traders with leveraged long positions were forcibly liquidated, regardless of their confidence in the asset. These structural events are not simple corrections—they are market purges that reveal where the true demand lies.

The true key of the sol: Anatomy of the support at $70

But here’s the critical point. Technically, the sol’s key support is clearly defined around $70. This level is not arbitrary—it represents a zone where historical demand has previously halted declines. If $70 holds, we are witnessing a classic volatility compression that precedes large expansions.

If $70 fails, the downward momentum could accelerate quickly toward $65 or lower, erasing any recent technical structure. Smart traders are divided: is this a strategic distribution sell before a deeper move? Or just short-term panic?

Next 48 hours: Technical rebound or structural collapse

What happens in the next 24-48 hours will determine the rest of Solana’s short-term structure. A rebound driven by short covering could push the price back to $85-$88, testing resistance. Alternatively, if selling pressure continues without demand at $75-$76, the market will seek the key support at $70 with urgency.

The truth is, this moment compresses volatility into a very tight space. Expansion will come—the question is in which direction and at what speed. Attentive traders are watching volume: without buying volume, any rebound is just a temporary trap. With buying volume, the next wave could carry Solana higher than expected.