Solana's SOL has experienced a significant decline, dropping 38% over the past month to a two-year low near $67. This downturn marks a continuation of bearish momentum for the seventh-largest cryptocurrency by market value, which has been trending downward since peaking near $295 in January 2025. The decline is part of a broader risk-off environment affecting crypto assets, with traders closely monitoring technical patterns and on-chain signals for potential support levels. A prominent head-and-shoulders pattern suggests further downside, with price targets around $50 or lower. Analysts are divided, with some predicting a potential drop to $30, while others see a near-term floor around $75. Solana's on-chain metrics, particularly the MVRV extreme deviation bands, indicate a possible bottoming near $75, a level historically associated with rebounds. The market remains cautious as liquidity conditions and macroeconomic factors continue to influence sentiment and price action.