Solana (SOL) Price: What On-Chain Data Shows as SOL Loses Trendline Support

TLDR

• SOL dropped 11% after being rejected at $93, now trading around $82–$84
• Solana DEX volumes fell to $55.5 billion, the lowest since September 2024
• Network fees dropped 42% from January to March, hitting $18.5 million
• Solana leads all blockchains with 13 DApps earning $1M+ in monthly revenue
• Traders are watching $80 as key support, with $75–$76 as the next level down if it breaks

Solana has been under pressure lately. SOL dropped 11% after hitting resistance at $93 last Wednesday and has been trading in a tight range between $80 and $95 ever since.

Solana (SOL) Price

At the time of writing, SOL is trading near $82–$84. The $80 level has held on multiple tests, but traders are watching it closely.

Solana’s DEX volumes fell to $55.5 billion in March — the lowest level since September 2024, according to DefiLlama. That drop in trading activity has directly cut into network fees, which came in at $18.5 million for March, down 42% from $30 million in January.

Ethereum’s layer-2 ecosystem is also eating into Solana’s market share. When combining Base, Arbitrum, Polygon, and Optimism, Ethereum’s DEX share rose from 33% in January to 42% in March. Solana’s dominance in this area is shrinking.

Source; DefiLlama

Total Value Locked (TVL) on Solana now sits at $6.3 billion, down sharply from over $12 billion in late 2025. Monthly active addresses have also fallen from over 100 million in mid-2025 to around 34 million recently.

DApp Revenue Keeps Solana Competitive

Despite the falling volumes, Solana still leads all blockchains in DApp revenue. It has 13 DApps earning $1 million or more over the past 30 days. Ethereum came second with 11, while BNB Chain and Base each had 4.

Source: DefiLlama

Protocols like Pump, Helium Network, and ORE Protocol continue to generate revenue, which keeps developer interest alive on the network.

What Traders Are Watching

Analyst Daan Crypto Trades shared a three-day SOL/USDT chart on X, noting that Solana is “chopping around between $80–$95 for now” and is “respecting the horizontals pretty well on the higher timeframes.” He flagged $67.23 as the next major support if the current range breaks down.

$SOL Chopping around between $80-$95 for now.

Respecting the horizontals pretty well on the higher timeframes.

Would get interested to trade it, once it breaks out of this consolidation phase. Likely a large move following after that. pic.twitter.com/ET1gKwlRa8

— Daan Crypto Trades (@DaanCrypto) March 31, 2026

Separately, analyst CW posted a one-hour chart showing a pickup in open interest and long positions after SOL dipped toward $80. CW noted that “following the decline, long position buying and OI on Solana are increasing” and that “buying pressure is occurring again.”

Key Levels to Watch

Price is currently sitting near the lower boundary of a descending channel around $82. RSI and MACD indicators show weak momentum. A break below $80–$78 could push SOL toward $76. A reclaim of $86–$90 could trigger a short-term bounce.

The former support zone of $115–$123 has now flipped to resistance, making a full recovery harder in the short term.

SOL holds $80 support while open interest rises and long positioning builds around current levels.