Solana Price News: Odds of a Trend Reversal Increase as $80 Floor Hold

Solana (SOL) has jumped by 4.3% in the past 24 hours, and it is once again trading above the $80 level, raising the odds of a bullish breakout above a key resistance level this week.

Trading volumes jumped by 76% during this period, currently sitting at $4 billion and accounting for over 8% of the token’s circulating market cap.

We have been tracking an interesting divergence between Solana’s network usage and the price of SOL, as these periods of increased activity tend to be bullish for the token, but this has not been the case lately.

Solana Transaction Volumes Hit Monthly Record

Last week, total transactions processed by this blockchain ended at 882 million – just 8% off the metric’s all-time high from early February.

On a monthly basis, February transaction volumes actually exceeded those from July 2025, back when Solana was trading at $172 and was on track to hit $200.

These kinds of volumes usually occur during bull markets when protocol-level activity increases. For example, speculators are more drawn to platforms like Pump.fun or more inclined to borrow money via decentralized solutions like Kamino.

This divergence is a bit more difficult to explain, and could be the result of en masse liquidations across protocols like Pump.fun and other meme coin launchpads, resulting in a spike in asset transfers.

SOL Retreats Off $90 But Bullish Momentum Persists

On-chain data aside, the 4-hour price chart shows that SOL remains confined in a tight range between $76 and $90.

We have been going back and forth between these levels for more than a month now. On Wednesday, the price hit $90 once again and started to retreat right after, dropping by more than 10% in just a few days.

This means that there is still significant selling pressure at that mark. However, the price action seems to have found a floor at $80, and the latest spike in trading volumes confirms that there was a big volume of buy orders sitting there, waiting for SOL’s next pullback.

The Relative Strength Index (RSI) just sent a buy signal upon climbing above the 14-period moving average. If the oscillator rises past the 60 level, that would confirm that bullish momentum is gaining steam, meaning that we could soon retest that $90 resistance again.

Buy Signal Pops Up After Bounce Off $80

Heading to the hourly chart, a buy signal just popped up during the American session, which is typically an indication of high-conviction buying at a certain level.

Our signals system aims to identify “decisional” candles across multiple time frames, but we have found that the sweet spot for swing and scalping trades is the 1-hour chart.

These are specific candle patterns that feature above-average volume. When these signals show up after a key level is tagged, it increases the likelihood of a strong directional move.

Right now, we expect a retest of the $90 area within the next 24 to 48 hours. Any pullbacks below $87 that push SOL to $80 could be considered a nice opportunity for a late entry.

The $83 level would provide an attractive entry with a risk-reward ratio of 3x if we set the take-profit target at $92. Meanwhile, if we break above this key level, the odds will favor a move toward $100 at least in the near term.