Solana (SOL) has fallen through the $77 support zone and was trading at $69.53, extending its loss to more than 42% since January 1, 2026. Among large-cap cryptocurrencies, that places SOL among the weaker performers this year.
$77 gives way as traders watch $53, $35, and $24
Crypto analyst Ali Martinez described $77 as a major support level for Solana, using the URPD method, or UTXO Realized Price Distribution. The metric tracks where investor cost bases are concentrated across price levels, which can help identify zones where buying or selling pressure may increase. In Solana’s case, the area around $77 had previously seen enough accumulation to act as a strong defensive line.
That defense has now broken. Martinez said demand appears thin below the $77 region, leaving $53, $35, and $24 as the next areas to monitor. Once a market loses a widely watched support level and buyers fail to step in, selling pressure can build quickly. In the near term, the article points to $65 as the immediate level on watch.
SOL trades below every major EMA as momentum indicators weaken
TradingView data show SOL is now below all major exponential moving averages: the 20-day EMA at $81.19, the 50-day EMA at $84.44, the 100-day EMA at $89.84, and the 200-day EMA at $105.62. Trading under short-, medium-, and long-term averages keeps the broader market structure tilted to the downside.
Other indicators are telling a similar story. The MACD line remains below the signal line, while negative histogram bars are expanding, a sign that bearish momentum is still growing. On the weekly chart, the RSI has dropped to 32, placing SOL in oversold territory. The same report noted that a number of altcoin charts are starting to resemble Solana’s, with long-standing horizontal ranges breaking lower; if those ranges are reclaimed, technical conditions could improve.
On-chain activity cools as Solana DEX volume slides 62%
Weak price action has been matched by softer network data. Since the start of the year, decentralized exchange volume on Solana has dropped 62%, with monthly DEX volume falling from $111 billion to $42 billion. That points to a sharp slowdown in trading activity across the chain.
Total transaction counts have also eased. Weekly transactions peaked at 959 million in early February, then flattened near the 700 million range. The article said observers connect that pullback to fading meme coin activity within the SOL ecosystem. On the daily chart, SOL has also broken below the $77 to $97 horizontal band it had held for five months, a move that technical analysis often treats as a continuation of the existing downtrend.