Solana Spot Trading Volume Falls Below $10 Billion for First Time

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 22 2026

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Spot Volume Decline: Solana's spot trading volume has fallen below $10 billion for the first time, indicating a significant reduction in investor interest and leading to a marked decrease in market activity, which could impact future price movements.
Price Resistance Emerges: Currently trading at approximately $87.65, SOL remains well below the critical resistance level of $125, and if it approaches this region again, increased selling pressure is expected, prompting investors to closely monitor the dynamics in the $100 to $125 range.
Market Sentiment Uncertainty: The MACD indicator shows weakened selling pressure, but a clear buy signal has not yet developed, while the RSI at 49.7 indicates indecision in the market, lacking strong buying or selling dominance.
Low Trading Activity: The ongoing decline in spot trading volume has left the market in a wait-and-see mode, and unless trading activity picks up, a strong price rebound for SOL will face challenges, with the overall trend likely remaining weak.

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Technical Analysis for SOL

Technical Sentiment Analysis for Solana (SOL). As of , Solana (SOL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Solana (SOL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	35.109	47.62	58.079	70.59	81.049	93.56	104.019
Fibonacci	47.62	56.394	61.815	70.59	79.364	84.785	93.56

About SOL

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.To learn more about this project, check out our deep dive of Solana.The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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