Solana Price Struggles at $80 as Declining Open Interest Raises Fresh Concerns—What’s Next?

Solana is struggling to hold the $80 level after falling from October highs near $123, with the token now trading in a critical support zone between $77 and $80. Persistent selling pressure has pushed SOL below prior support, and declining open interest is adding to concerns about the durability of the current price floor. The drop marks a sharp reversal for a token that had rallied earlier in the year, and the shrinking derivatives positioning suggests traders are reducing exposure rather than betting on a near-term rebound. Market participants are watching whether the $77–$80 band holds; a break below could open the door to further downside, while stabilization could set up a base for recovery.