While the Solana price continued its weak course in recent months, network data also showed an outlook supporting this picture. While SOL was trading around $79.50 at the time of writing, it has been moving between $76 and $90, which has been maintained since the beginning of 2026.
Significant slowdown in network data
Solana is known as a blockchain network that stands out with its high transaction capacity. However, participation in the network has declined recently. The number of network participants, which was approximately 3 million at the beginning of 2025, dropped below 1.9 million in current data. This decline indicates that actual usage on the platform is weakening.
A similar slowdown was observed in decentralized exchange activities. Daily trading volumes worth billions of dollars recorded in previous periods of 2025 have largely disappeared. Current data shows that there is no clear signal of recovery in this trend yet.
Mini dictionary: Open Interest refers to the total position size that has not yet been closed in the futures markets. A decrease in this data may indicate that investors are closing positions and leveraged interest is weakening. The funding rate is an indicator that reflects the balance between long and short positions in continuous futures transactions.
Interest in futures decreased, technical levels came to the fore
In the Solana futures market, Open Interest has fallen to $2.1 billion from peaks approaching $3 billion. This picture suggests that market participants have reduced their positions and leveraged risk appetite has decreased. However, the fact that funding rates remained in the positive region showed that some investors maintained their upward expectations.
Analyst Man of Bitcoin stated that the price is stuck between the descending and ascending trend lines on the four-hour chart, so the breakout may be close. According to the analyst, the $68.02 level is critical for preserving the current positive technical structure.
According to the analysis, if SOL produces an upward break, the first resistance is at $98. Above this, $110.54, $120.47 and $126.95 levels are watched as the next targets. In the downside scenario, a fall below $68.02 could weaken the current technical outlook.
Remarkable series on the monthly chart
Crypto Patel, who monitors the market, stated that for the first time in the history of Solana, an 8-month bearish candle occurred in a row. The analyst argued that this structure has not been seen before and bears some similarities with the price behavior in the 2021 bear market.
Crypto Patel noted that 8 consecutive red monthly candles have formed for the first time in Solana history and the 9th monthly candle is currently developing. The analyst stated that he watches the $80 to $50 range as a possible accumulation zone.
According to Patel’s assessment, in the 2021 cycle, SOL dropped from $ 260 to $ 8 and produced a total of 9 bearish monthly candles. However, this series did not occur without interruption. The analyst recalled that in the previous cycle, the last bearish candle signaled the formation of a bottom, after which the price reached a new high around $295 in about two years.
In shorter term data, according to Coinglass data, there is an intense short position accumulation between 83 and 87 dollars. If the price rises to this region, mandatory position closings may accelerate the movement. The prominent short-term support in the news was shown as $ 76, and the possible upward trigger zone was shown as the range between $ 83 and 87.
