Solana's Network Activity Grows Amid Price Decline
- Price Decline and Increased Selling Pressure: Solana's SOL has dropped 20% over the past month and nearly 44% since the start of 2026, while on-chain activity indicates strong growth in decentralized trading and DeFi, reflecting market concerns about its future.
- Surge in Trading Volume: Average daily trading volume across decentralized exchanges reached approximately $1.73 billion in the past week, a 39% increase from $1.24 billion a month earlier, demonstrating active user participation despite declining prices.
- Growth in Tokenized Stock Trading: Solana processed about $1.3 billion in tokenized stock trading within a week, representing 95% of the entire on-chain tokenized equity market, primarily driven by new products launched after the SpaceX IPO, indicating strong market interest in tokenized assets.
- Alpenglow Upgrade Plans: The Alpenglow upgrade, scheduled for late 2026, aims to reduce transaction finality to fractions of a second, enhancing network performance to meet growing institutional demand, although current market conditions remain challenging for SOL holders.
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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 8 technical signals, shows that 3 indicators are flashing buy, while 5 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 | 48.905 | 57.407 | 66.975 | 75.477 | 85.045 | 93.547 | 103.115 |
| Fibonacci | 57.407 | 64.31 | 68.575 | 75.477 | 82.38 | 86.645 | 93.547 |
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