- On Thursday, Solana (SOL) fell by around 5%, declining to $86.83 with a market capitalization of $49.69 billion.
- Indicators like the relative strength index are suggesting oversold conditions, but also show weak buying momentum.
- Despite the drop in the cryptocurrency, Solana is showing strong network activity as it handles 44% of all cryptocurrency transactions globally, according to on-chain data shared by co-founder Anatoly Yakovenko.
On March 26, Solana (SOL) price plunged by over 5%, following the downward trend in the crypto sector, forcing its value to drop from $91.81 to $86.54.
This downfall in the seventh biggest cryptocurrency was seen after dropping institutional investments in the cryptocurrency and the growing global tension.
Solana’s SOL Price Plunges 5% as Price Falls Below $88
According to CoinMarketCap, Solana (SOL) dropped by 5% in the latest 24-hour trading period and now trades at approximately $87.57. Its market capitalization is revolving around $52 billion with 24-hour trading volume exceeding $4 billion. This makes the latest candle drop in March 2026, where SOL has lost ground after failing to hold above the $92 level.
SOL is below its 50-day simple moving average near $90, and the 200-day average remains far higher at around $139. This confirms the longer-term downward trend. The relative strength index is revolving around 31, which shows oversold conditions but also shows weak buying momentum.
(Source: FinoraAI)
The MACD has turned negative, and the price action forms a bearish flag pattern on the daily chart. One of the major supports of the cryptocurrency is revolving at $85, while the next resistance revolves around $90 to $92. If it breaks above $92, it would spark a rally as per our SOL price prediction.
A dip in recent ETF inflows is also adding to the pressure. While spot SOL ETFs have attracted nearly $1 billion in cumulative flows since their July 2025 launch, institutional buying slowed in early March, with many days of net outflows before a modest rebound. Year-to-date inflows reached $222 million by mid-March, but daily figures have stayed modest compared with earlier streaks. This drop is coming even while institutional investment remains visible through 13F filings.
One trader writes in the technical analysis on CoinMarketCap community, “Solana hit the short-term target today. Entry was around $91.70, and the price dropped below $89 during the session, so the move played out as expected. Right now it’s trading near $91.6, still sitting in that $90–$92 area. With the previous high around $139, the structure doesn’t look very strong at the moment.”
“So far there’s no clear reclaim of $92, and price action still feels weak. In similar situations after large drawdowns, it’s common to see another move down rather than an immediate recovery. For now, it seems cautious below $92. Personally, I’d wait to see a clean reclaim and hold before considering any long,” the trader said.
826 million transactions in a single week.
44% of all crypto transactions globally. pic.twitter.com/5DxFKxU4km
— Forward Ind. | NASDAQ-$FWDI (@FWDind) March 26, 2026
Despite the drop in cryptocurrency, the Solana network is showing growth in its activity. The network is now handling over 44% cryptocurrency transactions globally, according to on-chain data shared by co-founder Anatoly Yakovenko. This volume is outperforming any single competitor and shows the network’s position as the busiest blockchain for everyday transfers and decentralized applications.
On the Solaba, the stablecoin supply also crossed $17 billion, and real-world asset value hit an all-time high of around $1.85 billion.
Apart from this, there are major developments taking place. The Firedancer validator client is now fully live and has improved network reliability while cutting the risk of outages. The upcoming Alpenglow upgrade will reduce transaction finality to roughly 150 milliseconds, which makes Solana suitable for high-frequency use cases.
Also Read: Polygon Price Eyes $0.18 as Revolut Stablecoin Volume Tops $1.2B
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