Solana’s recovery appears to be losing steam, having dropped more than 6% in the past week. Trading near $77, the cryptocurrency is currently experiencing its most negative market sentiment of 2026.
According to data analytics firm Santiment, SOL’s trading volume has fallen to its lowest point this year, while negative commentary surrounding the asset has surged to its highest daily level.
Much of the current disappointment stems from unmet expectations that strong narratives around tokenized stocks and real-world asset (RWA) activity would translate into more robust price performance. Traders have yet to witness this anticipated surge.
Santiment noted that this combination of elevated fear, uncertainty, and doubt (FUD) alongside weak trading volume has historically created conditions conducive to a rebound. With retail participation low and sentiment deeply negative, there may be less resistance if large stakeholders decide to drive Solana’s prices higher. This scenario could potentially set the stage for a sharp move that catches traders off guard.
The Solana network has seen significant user growth, adding 1.60 million new addresses over the past two weeks. Furthermore, the SuperTrend indicator on SOL’s three-day chart has flashed a new buy signal for the first time since October 10, 2025, when the Average True Range (ATR) trailing stop moved below the price. Analyst Ali Martinez pointed out that the previous SuperTrend sell signal was followed by a 74% price correction. He suggested that the latest signal indicates a bullish trend and could propel SOL towards the $100 mark.
Michaël van de Poppe also observed that the crypto asset has re-entered its trading range and may experience a brief pullback before continuing its upward trajectory. He added that holding the $75-$77 range as support could pave the way for gains toward $100 and potentially $120 in the coming weeks or months.
Another crypto analyst, Dami-Defi, highlighted a potential breakout scenario as SOL is currently testing the upper boundary of a descending channel that has been in place since September 2025. According to the analyst, a three-day close above $78 would confirm the breakout, opening the door to an initial move towards $105, followed by $125 and $155 if momentum persists.
However, this bullish setup would be invalidated by a three-day close below $72, and stronger trading volume would be necessary to confirm any breakout.
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