Solana Price Stuck Below $80 Amid Selling Pressure and Governance Concerns

Solana's price has struggled to break above $80 due to repeated selling pressure. Despite buyers defending the $74 to $75 support zone, sellers have consistently returned whenever SOL approaches the key resistance level. The token has held above $78 but lacks sufficient demand for a sustained breakout.

The BonkDAO treasury exploit has also raised concerns about governance security across Solana applications. An attacker drained nearly $20 million after gaining enough BONK tokens to pass a malicious governance proposal, exposing weaknesses in voting participation and execution controls.

Macroeconomic conditions have created another obstacle for Solana's price. Higher energy costs due to strong oil prices can increase inflation pressure and reduce expectations for easier monetary policy. A stronger US dollar has also reduced capital flows toward cryptocurrencies and other higher-risk markets.