SOL PRICE UNDER PRESSURE AFTER 8% DROP, $4B DEX VOLUME HIGHLIGHTS $135 LEVEL
Solana price prediction $135 support: Solana (SOL) fell nearly 8%, dropping from a daily high near $125.34 to lows around $115.39, as broader crypto markets reacted to ongoing macro uncertainty. Pressure increased after the US Federal Reserve chose to keep interest rates unchanged within the 4.25%–4.50% range, dampening short-term risk appetite.
Despite the pullback, the latest Solana price outlook suggests a potential recovery could emerge if strong on-chain activity begins to support price momentum. A move back toward the $135 area remains possible if buyers regain control.
Solana Leads All Chains in DEX Volume
Data from DefiLlama shows Solana recorded the highest decentralized exchange (DEX) volume among all major blockchains over the past 24 hours, nearing $4 billion. This figure significantly exceeded activity on Ethereum ($1.74B), BNB Chain ($1.68B), and Base ($1.16B).
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Network usage is also rising, with more than 2.7 million active wallets interacting on-chain this week. Much of the renewed activity is being driven by memecoins, which have started to show signs of renewed interest. While on-chain demand has surged, SOL’s price has yet to fully reflect this growth.
Long-Term Valuation Debate Remains Active
Over the past year, Solana’s price has declined nearly 50% and remains well below its January 2024 peak of $294. However, some long-term investors believe the network remains undervalued.
Analysts at Multicoin Capital have suggested that Solana could justify a valuation at least twice its current price, citing strengths such as fast settlement, near-zero fees, and a strong user experience for payments and consumer applications.
Solana founder Anatoly Yakovenko recently echoed this view, emphasizing long-term value creation:
“What matters is delivering real consumer value that the protocol can capture. Those captures become future cash flows.”
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Solana Price Analysis: $116 Support Under Pressure
From a technical standpoint, the daily SOL/USDT chart remains bearish. Price action shows SOL trading near the $116–$117 zone after failing to break above the $133–$135 resistance range.
This resistance aligns with the 50-day EMA and prior breakdown levels, reinforcing seller control. SOL remains below the 50-day, 100-day, and 200-day exponential moving averages, all of which are trending lower—confirming the broader downtrend.
The $116 area is a critical support level. Multiple tests of this zone increase the risk of a breakdown. A daily close below $116 could expose downside toward $110, with further weakness possible if selling accelerates.
For the bullish structure to improve, SOL would need to reclaim $134 with strong volume. Only then could higher recovery targets near $156–$162 come into play, though this scenario currently appears less likely.
Maxi Doge Presale Gains Attention as Memecoins Rebound
If Solana manages to recover and reclaim key resistance, speculative capital may continue flowing into early-stage memecoin projects such as Maxi Doge (MAXI).
Maxi Doge is an early presale memecoin inspired by Dogecoin’s community-driven growth model. The project has raised over $4.5 million so far and offers staking rewards of up to 70% APY at its current presale price of $0.0002801.
The project emphasizes community engagement through its trader-focused channels, echoing strategies seen during early meme-driven market cycles. MAXI tokens can be purchased using USDT, ETH, or a bank card via a connected crypto wallet.
