![\"Solana](\"https:\/\/media.investx.fr\/wp-content\/uploads\/sites\/5\/2026\/03\/28102945\/Capture-decran-2026-03-28-a-10.36.54-1024x564-1.jpg\")
To understand the current situation, we need to look back at January. A head and shoulders pattern was confirmed on the 3-day chart, with the neckline around $107<\/strong> broken in late January. The measured move of this breakdown, which is roughly 44%<\/strong> from the neckline, places the theoretical technical target around $59<\/strong>. We are therefore still halfway through this bearish scenario.<\/p>\n\n\n\n What aggravates the situation is the collapse of the economic engine that propelled Solana in 2024 and 2025. Weekly DEX volumes plummeted from $118 billion<\/strong> in early February to just $44.5 billion<\/strong> by the end of February, representing a 62%<\/strong> drop. Pump.fun <\/a>lost more than half of its volume, and Meteora collapsed by 83%<\/strong> over the same period. The memecoin ecosystem, which had been the network’s primary fuel, has brutally dried up.<\/p>\n\n\n On the technical side, the $83\u2013$79<\/strong> zone concentrates most of the short-term risk. A liquidation heatmap shows that the largest clusters of leveraged longs were located between $80 and $83<\/strong>. Once SOL entered this zone, forced liquidations hit quickly, wiping out a large portion of this exposure.<\/p>\n\n\n\n This is not necessarily bad news moving forward. A market that has already liquidated its longs in a specific zone is less vulnerable to a violent flush in the event of a retest of these levels. The question is: who is stepping in to buy?<\/p>\n\n\n\n![\"Dune](\"https:\/\/media.investx.fr\/wp-content\/uploads\/sites\/5\/2026\/03\/28102951\/Capture-decran-2026-03-28-a-10.43.30-1024x424-1.jpg\")
The mechanics of liquidations<\/h2>\n\n\n\n