TLDR
- Solana has taken the lead among all blockchains, boasting 10,864 all-time unique developers and overtaking Ethereum’s 9,017
- SOL is currently trading near $82.70, marking a steep decline from its 2025 peak, while analyst Wealthmanager is forecasting a further drop to $60
- The price has faced rejection at the $250 supply zone on three occasions, indicating robust resistance from sellers
- The number of DEX traders on Solana has declined to its lowest level in three years, suggesting diminished on-chain activity
- Analyst Crypto Patel views the current price levels, which are close to the 0.618 Fibonacci retracement, as a possible long-term accumulation zone ranging from $75 to $45
(SeaPRwire) – Solana (SOL) is currently trading around $82.70, holding a market capitalization exceeding $47 billion. The token has plummeted more than 77% from its all-time high reached in 2025. Despite robust network metrics, the price has been heavily impacted by overall market weakness.

The network continues to demonstrate strong performance. Solana has exceeded Ethereum in terms of total all-time unique developers, counting 10,864 builders versus Ethereum’s 9,017. Polkadot lags behind both with 8,995. The blockchain is also consistently processing more than 3,000 transactions per second.
However, solid fundamentals have not converted into price resilience. SOL has encountered rejection at the $250 supply zone on three separate occasions. That price level has emerged as a distinct ceiling where sellers have repeatedly entered the market.
Futures trading volume has declined significantly since reaching that peak. Bubble map data indicates waning demand across all areas, as the aggressive purchasing that previously fueled the rally has subsided.
Bearish Case: $60 in Sight
Analyst Wealthmanager highlights a pronounced macro downtrend that has persisted since the 2025 peak. SOL continues to form lower highs and lower lows. The resistance zone between $100 and $120 has thwarted every recovery effort.
Wealthmanager retains a bearish outlook and anticipates a decline to the $60 level within a fortnight. Feeble bounce patterns indicate that buyers lack the impetus to counteract the prevailing selling pressure.
Should that level breach, the $60-$65 demand zone becomes the subsequent area of interest. That range had previously underpinned the 2024 rally.
$SOL 2D
Ascending wedge plus fading momentum
Appears poised for breakdownDownside extension probable
(Trend continuation) pic.twitter.com/bQwxdTrBSM— Crypto Patel (@CryptoPatel) March 26, 2026
On the two-day timeframe, the price action is shaping into what analyst Crypto Patel identifies as a rising wedge formation. This pattern has formed beneath the 200-week moving average. This configuration is generally regarded as a bearish continuation indicator when it emerges following a significant downturn.
The chart reveals a rejection area near the wedge’s upper boundary. A break below the lower boundary would pave the way for a further downward move.
On-Chain Data Weakens Further
An additional chart from analyst Sweep on Dune demonstrates that DEX trader activity on Solana has dropped to its lowest point in approximately three years. The number of wallets on Solana-based decentralized exchanges climbed dramatically throughout 2024 but has since reversed course abruptly.
The data monitors trader numbers rather than total value. However, the retreat to multi-year lows underscores a distinct deceleration in speculative engagement on the network.
Long-Term Bulls Still Watching
Crypto Patel interprets the current price range from a contrasting long-term perspective. He observes that Solana is positioned near the 0.618 Fibonacci retracement level, within the $75 to $45 range. This region corresponds with historical demand levels and previous consolidation zones.
Where Have All The Solana Maxis Disappeared?
They Instructed Their Followers To Purchase $SOL Above $250. Shouted “To The Moon” At ATH.
Now Price Is Under $80… And they’re Mute. Not One Tweet Saying “Buy Now.”
Strange How That Works Right?
Bullish At $250. Mute At $80. That Reveals… pic.twitter.com/SRiCYSIr5N— Crypto Patel (@CryptoPatel) March 28, 2026
He designates this as a potential accumulation zone, projecting long-term upside objectives of $500 to $1,000 across multiple market cycles. He asserts that the structure remains intact provided the price does not fall decisively below $45.
Analyst Moonbag shares a comparable perspective, highlighting price compression between support around $80 and resistance near $200. He envisions a potential breakout with targets of $400-$600 should market conditions ameliorate.
At the time of writing, SOL is trading at $82.70.
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