- The Solana price shows sustainability above the $75 support with the formation of a triple bottom pattern.
- A sustained demand pressure pressure at $75 support hints the SOL price could rebound 14.5% before challenging $92 resistance.
- This 18.1% drop in network participation signals weakening user engagement across decentralized applications.
SOL, the native cryptocurrency of the Solana ecosystem, records a 1.4% surge during Tuesday’s U.S. market hours to trade at $81. While the broader market remained under pressure due to recently raised tariffs by Donald Trump and accelerating military tension between Iran and the U.S., the SOL coin showed renewed demand pressure at $75 support. However, stagnant in Solana’s network activity suggests that the price recovery could be delayed.
Solana Price Crash Deepens as On-Chain Activity Plunges
Since mid-January, the Solana price has witnessed a significant correction from $148 to $79, accounting for 46% loss. Similarly, the SOL’s market cap dropped to $46.1 billion.
The primary trigger for selling pressure can be linked U.S. macroeconomic data including the Fed rate decision, and more recently, the military action between the U.S. and Iran. The selling pressure persisted this week as Donald Trump raised the global tariffs to 15% despite the Supreme court ruling against them.
The daily chart analysis shows the coin price is currently seeking support at the bottom $75 mark. However, the price action holds support in the absence of fundamental support.
According to the Blockdata, the number of active addresses on the network has plunged from 6.58 million to 5.39 million is last two weeks, accounting for 18.1%.A sharp declines in active addresses frequently correlate with lower engagement in DeFi, NFTs, or general transfers—potentially contributing to decreased network fees, reduced demand for blockspace, and bearish sentiment in the short term.
Similarly, the Total volume locked on Solana witnessed a sharp contraction from $13.4 billion in September 2025 to $6.44 billion, registering a 52% drop. This suggests a substantial de-risking and capital outflow from the Solana DeFi ecosystem, reflecting broader bearish pressures.
These figures correlate with the earlier drop in active addresses, painting a picture of waning on-chain momentum amid a risk-off environment.
SOL Hints Major Reversal With Triple Bottom Formation
Over the past two weeks, the Solana price has traded in a range between the $92 resistance and $75 support. Multiple swings within this horizontal pattern with no sustainability on either side indicate lack of initiation from buyers or sellers to drive its movement.
Earlier today, the Solana price attempted a bearish breakdown below the $75 support amid the heightened geopolitical tension. However, the breakdown failed and price rebounded with a long-wick rejection candle indicating the intact demand pressure from bottom.
A series of higher low formation in daily RSI slope further reinforced the rising bullish momentum in the market.
In daily charts this upswing signals a triple bottom formation— a classic reversal pattern that drives a sustained recovery in price. If the pattern holds true, the Solana price could rebound 14.5% and challenge the $92 resistance.
A bullish breakout from the resistance will intensify the buying pressure and drive a sustained recovery to $117 as initial target.
Also Read: EU Regulator Raises Warning for Crypto Derivatives
Credit: Source link