Solana’s native token, SOL, logged its eighth consecutive monthly decline at the May 2026 close, marking the first such streak on record for the asset. The token traded near $81 on June 1, 2026, as traders monitored the $80 area for potential support despite relatively firm onchain activity.
Eight Straight Monthly Declines
The eight-month red streak underscores persistent selling pressure that has carried through multiple market cycles. The sequence drew attention from market commentators on June 1, who noted the rarity of consecutive monthly losses of this length for SOL.
Key Level: $80 Support
Price action around $80 has become a focal point for short-term traders. A sustained hold above this zone could signal stabilization after the prolonged drawdown, while a decisive breakdown may invite further volatility. As of Monday, SOL hovered around $81.
Onchain Activity Remains Resilient
While price has trended lower, several commonly tracked onchain indicators for Solana remain comparatively firm by recent historical standards, according to market observers. The divergence between network usage and token price continues to be a theme watched by analysts assessing broader risk appetite across crypto markets.
What to Watch
- Whether SOL can maintain support around $80 in early June trading.
- Any shift in network activity that confirms or contradicts current price momentum.
- Market-wide liquidity and risk sentiment that could influence high-beta assets like SOL.
This article is for informational purposes only and does not constitute investment advice.