Solana trades in a narrow range near $85 as market activity remains weak across spot and futures markets. Market data shows low trading participation, while some derivatives indicators turn slightly positive. At the same time, bullish calls from analysts return, although SOL price remains below key resistance levels.
Solana’s trading activity remains subdued. Data from CryptoQuant shows both spot and futures volumes in a cooling phase since November 2025. Participation from spot buyers and derivatives traders also remains low during that period.
The slowdown in activity has come alongside a sharp price decline. Solana fell from around $160 to the $80 to $90 range over recent months. The steepest drop came between late January and early February, when the token moved from about $125 to below $80.
SOL posted small recoveries toward the $90 to $95 zone in March. Volume, however, did not show a matching increase. Market participation remained soft, which left upside moves without stronger support.
Derivatives data points to continued trader activity. Aggregated open interest has remained relatively stable near the $2.0 billion to $2.1 billion range, based on Coinalyze data. This level shows traders are still holding positions in the market.
Funding rates have also moved back into positive territory. The rate stood near 0.006 at the time of writing. Positive funding rates usually show that long traders are paying short traders in perpetual futures markets.
Short pressure was elevated earlier in April. This pressure later eased, while long positioning started to return. At the same time, trading volume remained weak, which kept the broader setup mixed.
On the charts, Solana price has continued to move sideways after weeks of decline. SOL traded near $85 as technical indicators showed a market without a strong trend.
The RSI stayed close to neutral levels, showing no clear control from buyers or sellers. The DMI also pointed to weak trend strength. Price remained capped below the $90 to $92 resistance zone, which has rejected recent upside attempts.
Bullish discussion around Solana has also returned. An analyst on X revived the idea that SOL could reach $1,000 in the next market cycle after crypto trader Murad wrote, “Delusional Bulls Will Win in the End.”
The analyst pointed to Solana’s previous rally during the 2023 to 2024 bull cycle, when SOL rose from about $18 in September 2023 to around $295 by January 2025. Current price action, however, remains below $100, while volumes stay weak across the market.
Also Read: Solana Holds Near $83 as ETF Outflows Rise; Key Breakout Above $87 Crucial for Upside