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Solana trades near a critical support level around $76 as analyst Four_iv warns of a make-or-break moment, while Solana-based projects Step Finance, SolanaFloor, and Remora Markets announce immediate shutdowns following a $28.9 million hack.
Four_iv shared a four-hour TradingView chart on X showing SOL/USD hovering near $76.70. The chart marks a green horizontal band labeled "support." Price now presses directly against that zone.
Earlier this month, Solana dropped sharply from above $94. The market then staged a rebound toward the $88 to $90 range. Sellers later regained control and pushed SOL price lower again.
Since that rebound, the chart shows a series of lower highs. This structure reflects short-term weakness. Each rally attempt stalled below previous peaks.
Recently, the price slid from the mid-$80 range and revisited the same support band. Candles now compress just above the zone. Wicks show brief dips below support, yet no clear breakdown has occurred.
Previous tests of this area triggered rebounds around February 6 and February 13. Still, each bounce failed to break prior highs. Support now stands at the center of Solana’s next move.
At the same time, Step Finance announced it will wind down operations. The project shared the update in a Tuesday tweet. It confirmed that SolanaFloor and Remora Markets will also shut down.
Step said it explored financing and acquisition options after a hack in late January. The team stated it could not secure a viable outcome. As a result, it will end operations effective immediately.
The project said it is working on a buyback for STEP holders. The buyback will rely on a snapshot taken before the incident. It also plans a redemption process for Remora rToken holders.
Remora tokens remain backed one-to-one, according to the statement. The team thanked its community and customers for their support over the years.
Step Finance launched in 2021 as a Solana-based decentralized finance portfolio manager. Later, it expanded into SolanaFloor, a news outlet, and Remora Markets, a tokenized stock marketplace.
At the end of January, attackers breached the project’s treasury wallets. Blockchain security firm CertiK reported that 261,854 SOL left the wallets after stake authorization shifted to another address. The funds were worth about $28.9 million at the time.
Co-founder George Harrap described the shutdown as a difficult day. He said his immediate focus centers on finding roles for the team. He added that some parties have shown interest in acquiring parts of the business, although time pressure remains.
Step’s closure follows another DeFi shutdown. Lending platform ZeroLend said last week it plans to end operations after three years. Founder Ryker cited declining on-chain activity, infrastructure challenges, and rising security risks.
Also Read: Crypto News Today: Step Finance Hack Drains $30M SOL and Jolts Solana DeFi Ecosystem
Solana remains pinned near a major support zone as traders watch for the next price move. At the same time, Step Finance, SolanaFloor, and Remora Markets are closing after the January hack. The key takeaway is clear: Solana now faces both technical pressure and ecosystem strain.
