Solana (SOL) the seventh-largest cryptocurrency by reported market cap, is having a historical run, but one that’s delightful for SOL bears. The digital asset just posted its seventh successive monthly red candle, marking its longest sustained price decline since the network’s launch in 2020.
Solana bleeds for seven consecutive months
Earlier today, SOL closed its April 2026 monthly candle in the red, extending the losing streak that started last year in October. The cryptocurrency has now traded below the psychologically important $100 price level for 87 straight days.
Currently, SOL is trading just above $80, after tapping the strong support level at around $76 multiple times over the past month. Analysts opine that SOL’s sluggish price action is proof of waning retail-driven interest in the cryptocurrency.
The following monthly chart shows the sorry state of SOL over the past seven months. The digital asset has declined by more than 64 percent since October 2025, leaving the bulls with little to celebrate.
Similarly, capital inflows to US-based SOL exchange-traded funds (ETFs) have been trending down. Fresh data shows that April 2026 saw just $38.69 million in inflows, the lowest amount since their launch in October 2025.
Can SOL chart a reversal ahead?
Although SOL has been heavily plummeting over the past seven months, there are some early signs of a potential price reversal for the digital asset. In an X post, crypto analyst CRG remarked that the Solana monthly chart still shows no strength whatsoever.
However, there is some hope amidst the depressing price action. For example, March 2026 closed as an ‘inside month,’ while the April 2026 monthly candle created a so-called inside bar false breakdown.
To understand in simple terms, the price action in March displayed compression and indecision among SOL traders after an extended period of drawdown. Similarly, April saw the Solana price briefly sweep below the prior range before recovering back inside the structure.
In summary, such price behavior is an early indication that sellers are beginning to lose strength, even if buyers have not fully yet taken control. Although the market is still bearish, the nature of selling is starting to change.
That said, the bulls should not get overly excited due to weakening selling pressure. While it is promising, such price action typically precedes long stabilization phases, before any major reversal to the upside.
