Solana is trading near $85 with a fraction of a 24-hour loss, but this modest stabilization masks a sharp multi-week pullback, and the question now is whether the worst is behind the network or yet to come. SOL has lost over -70% from its 2025 highs, with the final 14-day leg alone erasing around -10% of its value as the price slipped from nearly $98 to the mid-80s.
What makes the fall unusual is the backdrop: on-chain activity did not collapse alongside prices. January DEX volumes reached around $117 billion and the network processed nearly 160 million daily transactions, numbers that would make headlines in a bull market.
The selloff reflects a broad rotation of risk aversion rather than a Solana-specific deterioration. Analysts cite diminishing liquidity, spot crypto trading volumes roughly halved from around $2 trillion in October to $1 trillion at the end of January, according to CryptoQuant, and macroeconomic headwinds related to expectations of a more hawkish Federal Reserve following President Donald Trump’s nomination of former investment banker Kevin Warsh to lead the institution.
The stablecoin’s market capitalization has fallen by around $10 billion, suggesting that capital is entirely off-chain. Institutional flows also turned negative, with Solana spot ETFs seeing an outflow of $11.9 million on a single day and about $8.92 million for the week, while corporate cash holders are sitting on about $1.4 billion in unrealized losses.
Can Solana Price Recover Above $90 This Week?
$ SOL 3 days
Look, another bear flag
Nobody wants to believe #Solana could go down to $44-30, but reality says that’s most likely
I’ve been here long enough to know that the seemingly unthinkable can happen.
Remove the emotion and just evaluate the chart impartially… pic.twitter.com/J8pPw3H7b1
– Crypto ₿ULL God, FSA, MAAA (@CryptoBullGod) May 26, 2026
The first significant support level for Solana lies at $83.5, with initial resistance at $87.5 and a secondary high at $88.8. A clear recovery from this upper resistance band would be the minimum condition required by most tech-oriented analysts before considering the current rebound as anything other than a consolidation.
Three scenarios are worth following. In the bullish case, a decisive close above $88.40 on expanding volume would signal further accumulation and open the way towards the $95-$100 range. The base case assumes continued action in a range between $84 and $88 as the market digests macro uncertainty.
The bearish case, and the only technical analysis on SOL’s current structure reported as a real risk, involves a failure of $83.5 support, which could accelerate selling toward lower levels that have not been tested in several months.
The Alpenglow upgrade remains a fundamental catalyst in the long term, but network upgrades rarely halt short-term momentum-driven price declines. Patience seems to be the key word.
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LiquidChain aims for early upside as SOL USD tests key levels
For investors watching SOL work through support and spin option pricing, the divergence between Solana’s strong on-chain fundamentals and weak price performance raises a pointed question: What captures the upside potential of the network’s activity without the downside risk of a single asset?
An early stage project positioned exactly around this thesis is Liquid Channel ($LIQUID)a layer 3 infrastructure protocol that merges Bitcoin, Ethereum, and Solana liquidity into a unified execution environment, a direct architectural response to the fragmentation that forces capital to choose sides between chains.
The project’s unified liquidity layer enables single-step cross-chain execution with verifiable settlement, and its single-deployment architecture means developers access the BTC, ETH, and SOL ecosystems without redeployment fees. The presale is currently priced at $0.01463 per $LIQUID token, with over $807,000 raised to date.
Visit the LiquidChain pre-sale website here.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
Daniel Frances is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. Hailing from crypto since 2017, Daniel leverages his experience in on-chain analytics to write evidence-based reports and in-depth guides. He holds certifications from the Blockchain Council and is dedicated to providing “insight gain” that overcomes market hype to find real utility for blockchain.
