How low will Solana get in April?

Key SOL liquidation levels identified are $70, $60, and $50. Based on web research, primarily utilizing data from Coinglass, the highest concentrations of leveraged long liquidations for SOL perpetual swaps on Binance and Bybit within the $40 to $90 price range are identified around the $70.00, $60.00, and $50.00 price levels ^[1]. These particular thresholds represent significant clusters of potential long liquidation orders, evident from historical analysis and current heatmap patterns ^[1].

Each level represents a critical liquidation trigger point. Data from Coinglass indicates that a drop to approximately $70.00 would trigger a substantial wave of long liquidations ^[1]. Further downside movement to the $60.00 psychological support level also reveals a heavy concentration of liquidation orders for long positions ^[1]. Should the price continue its decline, the $50.00 mark presents another critical juncture, indicating a high volume of leveraged long liquidations across major exchanges like Binance and Bybit ^[1]. These price points are frequently highlighted on liquidation heatmaps as areas where a large number of long positions would be forcibly closed, potentially leading to cascading selling pressure ^[1].

Over the past week, major exchanges experienced significant Solana whale movements. One notable instance involved a whale unstaking $26.1 million worth of SOL and subsequently depositing approximately 115,000 SOL to Binance around April 26-28, 2024, a move that raised concerns about potential selling pressure ^[1]. Conversely, another prominent whale withdrew 268,395 SOL, valued at approximately $60.7 million, from Coinbase. This withdrawal was followed by the staking of these tokens, a behavior generally seen as reducing near-term SOL liquidity in the market ^[2].

Specific whale activities resulted in a net outflow from Coinbase and Binance. While specific 'smart money' flows for Kraken were not detailed within the last seven days, broader on-chain analysis indicated a general inflow of 1.32 million SOL to exchanges overall during this period ^[3]. However, when combining the identified specific whale movements – the approximately 115,000 SOL deposit to Binance and the 268,395 SOL outflow from Coinbase for staking – the net effect across these two major exchanges was a net outflow of roughly 153,000 SOL ^[2].

Solana's market prices a higher premium for downside protection. Over the past week, the market has continued to price in a higher premium for Solana's downside protection, as indicated by available data for its 1-month 25-delta skew across various exchanges. This bias is reflected in the 25-delta risk reversal, which measures the difference in implied volatility between out-of-the-money puts and calls ^[1]. A more negative skew suggests that investors are willing to pay more for puts relative to calls, signaling an anticipation of potential downside movements or an increased demand for hedging against price drops ^[1].

Specific Deribit week-over-week changes were not explicitly detailed. While aggregated data from Glassnode offers a valuable overview of Solana's 1-month 25-delta skew across multiple exchanges ^[1], specific week-over-week changes for Solana options' implied volatility and 25-delta risk reversal on the Deribit exchange for the end-of-April expiry were not explicitly detailed. The Crypto Derivatives Analytics Reports from Deribit Insights, which were reviewed for this analysis, typically provide broader market commentary on implied volatility trends for major cryptocurrencies but did not contain granular, week-specific data for Solana's option metrics, particularly the 25-delta risk reversal ^[2].

Direct month-over-month Solana data was unavailable from specified sources. The provided web research did not contain direct month-over-month percentage changes for daily active addresses or total transaction fees on the Solana network, specifically from Artemis.xyz or The TIE. The available Artemis links offered dashboard access, API documentation, and a January 2024 blog post, none of which included the requested pre-calculated month-over-month data ^[1]. Furthermore, no direct links to The TIE were found in the provided materials.

Related reports offer insights on Solana's performance and active addresses. While the precise month-over-month data from the specified sources was unavailable, related findings from other reports were identified. An HTX Insights report on Solana's Q1 performance indicated that revenue experienced a significant 68% year-on-year plunge ^[2]. Additionally, an article from Blocklr, seemingly from March 2024 despite being dated March 2026 due to a likely typo, noted that Solana had surpassed Ethereum in daily active addresses ^[3]. However, these findings do not provide the specific month-over-month percentage changes or originate from Artemis or The TIE as initially requested.

Specific VPVR support levels between current price and $45 are not identified. The available research does not explicitly detail specific technical support levels for Solana (SOL) derived from the Volume Profile Visible Range (VPVR) indicator on the daily chart since the start of the year, particularly within the requested price range between current trading levels and $45. The provided sources predominantly offer historical price data and general market analyses of Solana's recent price movements, rather than a focused VPVR analysis for these lower support levels.

Current market analysis identifies $85 as critical immediate support. Solana has recently been trading near the $85-$86 mark according to current market analyses. The $85 price point is frequently identified as a critical immediate support level ^[1]. This level is described as a key breakout zone and a significant factor in determining the next major price movement for SOL ^[3]. While these sources also identify immediate resistance points, such as $90 ^[2], they do not provide further specific technical support levels derived from VPVR for the lower range down to $45.