SOL price appears to be bearish on multiple chart time frames, leading analysts to set a short-term goal of $50. Will the “extreme” state of SOL’s MVRV indicator prevent further price decline?
Solanas SOL (SOL) continues to suffer bearish headwinds because it collapsed to $67 on February sixth. SOL is greater than 72% below its all-time high of $295, and several other metrics suggest that the downtrend is much from over.
Key Takeaways:
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Solana’s bearish technical patterns trend toward a $50 price goal.
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The MVRV bands suggest that SOL can have bottomed out, but the information point is an outlier.
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The spot Solana ETFs proceed to draw investor interest and supply hope for a short-term price recovery.
SOL: Price decline from all-time highs. Source: Glassnode
SOL chart technicals goal $50
Solana's recent decline caused the worth to lose key support levels, confirming a head and shoulders (H&S) pattern on the weekly chart.
Crypto analyst Bitcoinsensus shared a chart showing SOL confirming an H&S pattern, suggesting further downside.
“The next level of support lies within the $50-$60 range.” 
SOL/USD weekly chart. Source: Bitcoinsensus
The two-day chart shows that the worth fell below the H&S neck line at $120 on January thirtieth. The measured goal of the H&S pattern, calculated by adding the pinnacle height from the breakout point, is $57, a 30% decline from current levels.
SOL/USD two-day chart. Source: Cointelegraph/TradingView
Upon zooming in, the worth retested support from the lower boundary of a bear flag at $80 on the every day chart as shown within the chart below.
A every day candlestick close below $80 will confirm the pattern and pave the best way for an additional decline towards the flag's measured goal at $48. Such a move would increase total losses to 41%.
SOL/USD every day chart. Source: Cointelegraph/TradingView
Solana’s MVRV bands indicate a bottom
Below $80, SOL’s first line of defense is the underside of its MVRV price range at $73. The bands represent on-chain price zones that show when SOL is trading below or above the common price at which traders last moved their coins.
Historically, the worth of SOL fell near and even below the bottom MVRV band before making a big recovery. This might be seen in March 2022 when SOL price rose 87% to $140 in three weeks after testing the bottom MVRV deviation band around $75. The same recovery occurred in June 2022 and December 2020.
Solana MVRV price bands with extreme deviation. Source: Glassnode
Solana's association with the FTX crash in November 2022 caused a big deviation below this range, with the worth falling one other 70% and bottoming out at around $7 in December of the identical yr.
Solana ETF inflows provide reprieve
US-based spot Solana exchange-traded funds (ETFs) continued to draw investor interest, with these investment products seeing inflows in 66 out of 74 days, underscoring continued institutional demand since their launch in late October 2025.
Spot SOL ETFs posted a rise of $2.9 million on Tuesday, pushing their cumulative inflows to $877 million and total net assets under management to over $726 million, in accordance with data from SoSoValue.
Spot Solana ETF flow data. Source: SoSoValue
Similarly, global Solana-based investment products saw net inflows totaling $31 million within the week ended February 13.
This reinforced the regular institutional demand for SOL-based ETPs whilst the market price weakened.
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