Solana (SOL) Price: Network Growth Continues as Token Slides Below $130

TLDR

• Solana (SOL) dropped below $130 this week despite increased network activity and a new $35 million developer fund announcement
• Total value locked in Solana applications grew from $4.6 billion in late 2024 to $12.2 billion one year later
• Decentralized exchanges on Solana processed $111 billion in trading volume during April 2025, up 14% from March
• SOL currently trades below $135 with immediate resistance around $134 and major resistance at $138
• Solana-based projects raised $173 million in Q3 2024, the strongest fundraising quarter since 2022

Solana dropped below $130 this week as sellers pushed the token lower during a weak session for altcoins. The price currently sits around $130, down from recent highs.

The decline happened even as network usage increased and developers announced a new $35 million fund for builders. This contrast between falling prices and rising activity has become common in early 2026.

Price and usage often move on different schedules. Token prices reflect trader sentiment in real time. Network usage shows how many people actually interact with the blockchain each day.

The total value locked in Solana applications climbed from $4.6 billion in late 2024 to approximately $12.2 billion one year later. This metric tracks funds held in exchanges, lending platforms, and other decentralized applications.

Trading volume remained strong through April 2025. Decentralized exchanges on Solana processed about $111 billion that month, up 14% from March according to Blockworks Research.

Developer Funding Points to Long-Term Growth

The new $35 million fund will support early-stage projects building on Solana. These funds provide seed money for teams developing applications, games, and payment tools.

Developer interest stayed high through 2024. Solana-based projects raised $173 million during the third quarter, marking the strongest fundraising period since 2022.

Builders typically choose networks where users already gather. Solana attracts developers because transactions process quickly and cost less than many competing blockchains.

The network hosts memecoin traders, decentralized finance applications, and payment experiments. This variety of use cases helps maintain daily activity levels.

SOL dropped below key support at $140 during the recent selloff. The token now faces immediate resistance around $134 and major resistance at $138.

A bearish trend line formed on hourly charts with resistance at $138. Breaking above this level could open the path toward $144 and potentially $150.

Technical Levels Show Downside Risk

If SOL fails to reclaim $133, further declines could follow. Initial support sits near $129, with stronger support at $125.

A break below $125 would target $120. Dropping under that level could push Solana toward $112 in the near term.

The token hit a low of $124 before recovering slightly. Current consolidation happens below $135 and the 100-hour moving average.

The 50% Fibonacci retracement level of the recent decline from $143 to $124 aligns with resistance at $134. Bulls need to reclaim this area to shift momentum.

Some traders remember Solana’s past network outages, though the blockchain has operated smoothly for over a year. Any stability issues typically trigger quick price reactions.

Token prices respond to trader behavior, available market liquidity, and movements in Bitcoin and traditional stocks. When those markets turn cautious, SOL generally follows regardless of network activity.

Strong network usage does not guarantee price increases. However, consistent application growth gives projects a foundation during market downturns.

Networks with rising activity often recover faster once market fear subsides. This does not mean immediate price bounces, but helps maintain relevance while weaker networks lose attention.

SOL holders face short-term pressure from falling prices and technical resistance levels. The $35 million developer fund and growing total value locked suggest builders continue choosing Solana for new projects.

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