Alameda Moves $15M SOL as Bears Eye $60 Target

Alameda Research’s estate distributed $15.6 million worth of SOL to creditors in its latest monthly tranche. The transfer covered 25 separate addresses and marked another step in a 21-month repayment process. Besides the recent movement, Alameda still controls nearly $314.95 million in SOL across its on-chain wallets. Consequently, market participants now question whether these tokens will flow directly into exchanges. That concern grows as Solana trades near key technical support after a prolonged decline. As of press time, Solana trades at $77.41. The token dropped 3.83% in the past 24 hours . Additionally, it fell 3.23% over the past week. Daily trading volume stands near $3.8 billion, reflecting active participation during the pullback. With a circulating supply of 570 million SOL, the network holds a market capitalization of about $43.9 billion. However, price structure continues to weaken. Head and Shoulders Breakdown Raises $50–$60 Risk According to Bitcoinsensus, Solana confirmed a breakdown from a multi-month head and shoulders pattern. The neckline between $100 and $110 failed decisively. Hence, bearish momentum accelerated as buyers lost control of that range. Price now trades well below $90, which previously acted as short-term support. The measured move from the pattern projects toward the $50–$60 region. Significantly, that zone aligns with historical consolidation and earlier demand. If sellers maintain pressure below $90, downside momentum may intensify. Meanwhile, RSI trends near oversold territory, signaling weak buying strength. Bulls must reclaim $100 quickly to stabilize structure. Solana Down 70% From January Peak Solana Sensei notes that SOL has fallen more than 70% from its January all-time high near $260–$300. The chart shows consistent lower highs and lower lows since that peak. Consequently, the macro trend reflects distribution rather than accumulation. The $78–$80 zone now acts as critical horizontal support. Source: X If price breaks below $78, the next downside targets sit near $60, followed by $40. Moreover, those levels coincide with previous consolidation phases. On the upside, bulls must reclaim $100 and then $120 to signal structural recovery. Until then, the broader downtrend remains intact.