Solana (SOL) price is struggling near the $85 mark, after failing to reclaim the $100 psychological level. The broader crypto market remains stable, but Solana is not showing relative strength. Instead, SOL is drifting inside a weakening structure that has produced consistent lower lows since the rejection near $130. The question now shifts from recovery to stability: Can $85 hold as a base, or is this just a pause before another leg lower?
Solana (SOL) Network Metrics Reflect Cooling Demand
Solana’s on-chain data reinforces the cautious price structure. SOL’s Total Value Locked currently sits near $6.58 billion, reflecting a noticeable moderation from prior peaks.
While the decline is not dramatic, it signals that capital inflows have slowed rather than expanded. In strong recovery phases, TVL typically rises alongside price as liquidity returns aggressively. That dynamic is absent for now. Transaction data paints a similar picture. Over the past 24 hours, decentralized exchange volume has reached approximately $2.67 billion, while perpetual futures volume stands near $1.01 billion. Active addresses are around 1.99 million.
The divergence between price stability and slowing network expansion often precedes range-bound consolidation. Markets tend to require renewed participation before sustaining upside breakouts. Until TVL and network activity flows begin trending higher, price rallies may struggle to hold momentum.
Solana Price Compresses Below $100: What’s Next?
Solana price remains inside a broader corrective channel that began after the rejection from the $120 region. Currently, SOL price is compressing between $80 and $90 range, making it a structural demand area. However, each rebound from this region has printed progressively lower highs. That formation suggests controlled distribution rather than aggressive accumulation. The drop below $100 transformed that level into a key resistance ceiling. Since then, each rebound has struggled to sustain follow-through. SOL’s immediate support now sits between $78-$80. A sustained break below $78 would likely expose the next demand region near $70-$72, where earlier accumulation phases occurred.
On the upside, price must first reclaim the $90-$95 resistance band before attempting a move back toward $100. A daily close above $100 would invalidate the sequence of lower highs and potentially restore short-term bullish structure. Until that happens, rallies appear corrective rather than reversing. The next sustained move will depend on whether network activity and capital flows begin to expand again. Until then, price action remains cautious, controlled, and technically compressed within a narrowing decision zone.
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