Solana Price Struggles as Selling Pressure Mounts-Is a Major Drop Coming?

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Solana Price Under Pressure as Selling Activity Rises—Is More Downside Ahead?

Solana’s price has fallen 1.5% to $78.82, dropping below $80 and performing worse than the overall market. This decline is mainly due to the ongoing effects of a significant hack within the Solana ecosystem. The $285 million exploit of Drift Protocol on April 1, 2026, continues to weigh heavily on the price. This hack, attributed to North Korean hackers, caused Drift’s total value locked (TVL) to plummet from $530 million to $230 million, leading to a liquidity problem and a loss of confidence among users. Consequently, investors are now re-evaluating the security of the Solana ecosystem, putting further downward pressure on SOL‘s price.

Because of this, Solana’s price appears vulnerable whenever the overall market tries to recover. This increasing selling activity suggests a cautious forecast for the near future.

Price Structure Shows Weakness Near Key Support

Solana’s price is currently testing a key support level between $75 and $78, trading around $78-$80. It’s showing weakness after failing to stay above $85. Even though the overall market is trying to recover, Solana is falling behind, suggesting buyers aren’t strongly committed at higher prices. This isn’t a continuation of the previous upward trend; it’s a critical moment where whether the price stays above or falls below this support level will determine its next direction.

Looking at the daily price chart, Solana (SOL) has fallen out of an upward trend and is currently hovering just above the $77 support level, a crucial price point. The price has repeatedly tested this $77 level without a significant recovery, which indicates that buying pressure is decreasing. Additionally, the Relative Strength Index (RSI) is showing weakening momentum, and the price is making lower highs after failing to break through the $90-$95 resistance area.

If the price falls below current support levels, it could drop to $73, and potentially even further to between $67 and $70. To move higher, SOL needs to break back above $85–$86 to show strength, after which the next hurdle would be the $93–$95 range.

TVL Decline Signals Capital Outflow

Total Value Locked (TVL) shows how much money is actually being used in a system. A big drop like this suggests that fewer people are using DeFi services, and money is moving out of the network. Data from DeFiLlama shows that Solana’s TVL has steadily decreased, going from over $9 billion to around $5.5 to $6 billion in the last few weeks.

This suggests the money being taken out might be exchanged for stablecoins or other investments and moved to different platforms. Because Total Value Locked (TVL) reflects investor confidence, a drop in TVL discourages new investments and causes current owners to sell. The recent decrease in TVL, along with the price being near a support level, points to low demand and increasing supply.

What’s Next—Will SOL Price Secure Range Above $85 This Week?

The price of Solana isn’t just falling because of selling pressure; it’s also showing that fewer people are investing in the network. The decrease in Total Value Locked (TVL) suggests that there’s less money and activity within Solana, making a price rebound less likely.

The price is currently staying around the $75–$78 support level, but isn’t showing much momentum. Combined with decreasing Total Value Locked (TVL), this indicates the current stability is likely temporary and not a solid foundation for future growth.

Currently, this restricts potential for quick gains. While Solana (SOL) might temporarily increase in price, without new money coming in, it will be hard for those gains to last. For a significant and lasting price increase, the price needs to stop falling and ideally start to rise, along with the total value locked (TVL) in the network. Until we see that happen, expect slow price movements that mostly react to news, with the risk of further price drops remaining high, rather than a strong upward trend.

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2026-04-05 17:52