The main driver behind this drop is a drastic decline in activity across its platforms. According to DefiLlama data, DEX<\/a> volumes on Solana have plunged to $55.5 billion<\/strong>, a level unseen since September 2024. Network fees have also melted away, dropping from $30 million<\/strong> in January to just $18.5 million<\/strong> in March, marking a 42%<\/strong> decrease. This contraction is fueling short term bearish sentiment. This is especially true as Ethereum layer 2 networks are rapidly gaining market share.<\/p>\n\n\n On the technical front, the 14 day RSI for Solana stands at 46.3<\/strong>, sitting in neutral territory. Moving averages are flashing a dominant sell signal. There are 8 sell signals<\/strong> compared to only 4 buy signals across the MA5 to MA200. The MACD shows clear signs of exhaustion, confirming the temporary dominance of sellers.<\/p>\n\n\n\n The $80<\/strong> level has absorbed the majority of the selling pressure during this pullback and has been tested multiple times. This makes it the most significant short term support. In the event of a breakdown, the measured move from the head and shoulders pattern identified on the 3 day chart points toward a technical target around $59<\/strong>.<\/p>\n\n\n\n However, despite this bearish momentum, the Solana<\/a> ecosystem maintains strong fundamentals. The network boasts 13 DApps<\/strong> generating over one million dollars in monthly revenue over the past 30 days, compared to 11<\/strong> for Ethereum, 4<\/strong> for BNB Chain and 4<\/strong> for Base. This fundamental resilience could slow down the decline.<\/p>\n\n\n\n![\"Chart](\"https:\/\/media.investx.fr\/wp-content\/uploads\/sites\/5\/2026\/04\/01120152\/image-4-1024x634-2.png\")
Is the key $80 support at risk?<\/h2>\n\n\n\n