Solana native token SOL (Sol) increased by 52% between September 18 and November 21, following the broader altcoin market collapse that saw Bitcoin reach a high. Seven-month low of $80,000. As a result, SOL price has lost key long-term support levels, with on-chain and technical data pointing to a deeper correction below $100.
Main takeaways:
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Solana’s total value fell to a six-month low of $8.67 billion.
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Solana coin’s weekly trading volume collapsed by 95% in 2025.
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The bear flag indicates SOL price falling towards $86.
Solana’s TVL drops to June levels
the The total value is closed (TVL) on the Solana blockchain fell more than 34% to a six-month low of $8.67 billion on Wednesday from a peak of $13.22 billion reached on September 14. Solana’s TVL has remained below $10 billion over the past 30 days.
Data from DefiLlama He appears The subsequent decline in TVL was driven by liquid Jito stakes, with a 53% decline since mid-September. Other major decentralized applications, such as the Jupiter DEX protocol, Raydium, and Sanctum, recorded declines of 30%, 46%, and 46%, respectively.
Related to: Solana ETFs record 7-day inflow streak despite price decline
The possibility of SOL price falling below $100 is supported by the decline in Solana price Network feesActive addresses and number of transactions over the past seven days.
Solana Series fees totaled $3.43 million over the past week, representing an 11% decrease from the previous week and a 23% decrease from last month.
Likewise, the number of active addresses (AAs) on Solana’s base layer decreased by 7.8% over the same period, while the number of transactions decreased by 6.3% over a seven-day period.
The decline in AAs, number of transactions, and network fees indicate a decline in on-chain demand for SOL, adding to the overall pressure.
Solana memecoin volume collapsed
The decline in Solana’s TVL mirrors the bearish trend in Solana-based memecoins as they are flashing red across the board.
Based on Solana com. memecoins It recorded double-digit losses on both the weekly and monthly time frames, as shown in the figure below. The majority of these tokens are down 10% to 25% from local highs.
This decline in the prices of Solana-based meme coins was accompanied by a decrease in DEX activity on First layer blockchain. Weekly decentralized trading volume on Solana attributed to memcoins remains weak, falling 95% to $2.7 billion from its peak of $56 billion recorded in January, according to data from Blockworks Research.
A decrease in memecoin activity on Solana indicates decreased network activity and declining usage, negatively impacting demand and the price of SOL.
SOL’s “Bear Banner” is targeting $90,000
Data from Cointelegraph Pro Markets and TradingView It indicates that SOL is trading below the bearish flag, indicating the risk of further decline.
A bear flag is a bearish continuation pattern that occurs after a significant decline, followed by a period of consolidation at the lower end of the price range.
A break below the flag support line at $135 last week set the stage for the altcoin’s next move lower. The measured target for the bearish flag is $86, or a 32% decline from its current price level.
Before reaching this level, SOL could find support from the 200-week moving average at $118, where the bulls are expected to make a strong defense.
“A bearish flag is forming on Solana’s 4-hour chart.” He said Leverage trader alias Grim in an X post on Wednesday, adding:
“I wouldn’t be surprised to see Solana price between $90 and $100 soon.”
like Cointelegraph reportedA breakout of SOL price below the symmetrical triangle support line at $126 would indicate that the bears are in control, leading to a deeper correction towards $95.
This article does not contain investment advice or recommendations. Every investment and trading move involves risks, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness or reliability of any information contained in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
This article does not contain investment advice or recommendations. Every investment and trading move involves risks, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness or reliability of any information contained in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
