$SOL at $84.7, are you jumping in?
Trading volume surged 60% in the first quarter, daily active users skyrocketed to 1.5 million, ETF size broke $1 billion, even Wall Street is starting to trade with its high-speed network— but what about the price? Since the beginning of the year, it’s fallen nearly 30%, 70% below its all-time high, and on the daily chart, it’s all “lower highs, lower lows.” With such strong fundamentals, why isn’t it rising?
First, look at the surface: data is ridiculously strong, but the price is terrible.
Solana did 10 billion transactions in the first quarter, a 60% increase from the previous quarter, with DeFi and NFTs both pushing forward. Daily active users have increased by 1.5 million for three consecutive months. Wrapped XRP is live, ETF size has surpassed $1 billion, DoubleZero has brought Wall Street’s high-speed trading system onto Solana.
But what about the price? $84.78, down nearly 30% from the start of the year, 70% below its all-time high.
First thing: fundamentals and price are seriously diverging.
TVL still has $5.79B, stablecoin market cap is $15.8 billion and still growing, 24-hour active addresses are 2.21 million, DEX trading volume increased 14% in a week—if any other coin had these numbers, the price would have skyrocketed. But SOL just won’t go up. Because market sentiment is suppressed by macro factors, funds are all in BTC and stablecoins for risk aversion, Altcoin Season Index is only 34/100, the altcoin season hasn’t arrived.
Second thing: institutions are secretly entering.
Bitwise’s SOL ETF saw over $15 million inflow in a week, total size broke $1 billion, traditional institutions like Goldman Sachs are already holding positions. Singapore’s Gulf Bank launched a 1:1 USDC exchange on SOL, and Y Combinator’s first full stablecoin funding was completed on Solana.
Third thing: technicals tell you, it can’t fall further.
$84 level has been tested multiple times, volume hasn’t increased, indicating “volume contraction and adjustment.” Open interest in futures contracts increased 20% this week, bulls are quietly adding positions. RSI is between 45-50, MACD shows a death cross but the histogram is shrinking—bears are running out of steam.
On one side: trading volume surging, institutions entering, ecosystem racing forward.
On the other side: price down 70%, daily chart bearish, macro pressure mounting.
Key level: $84—this is the last bottom line for bulls and bears.
Short-term traders: lightly buy around $84.5-85, target $89-91, cut losses decisively if it drops below $83.5, next support at $78.
Long-term players: test the waters with small positions now, add in batches below $80. Institutions’ money is already on the way, macro turning bullish, and for coins with such fundamental divergence, rebounds can be fierce.
SOL is now that kind of asset—everyone’s calling it trash, but smart money is already secretly stacking chips. #山寨币强势反弹 $SOL
