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

Author: Alejandro Arrieche

Published: March 09, 2026

Key Points

• Solana transaction volumes reached a monthly record in February.
• SOL has retreated from the $90 resistance but maintains strong bullish momentum.
• A breakout above the $90 level is likely, potentially leading to a more aggressive rally.

Current Market Overview

Solana (SOL) has seen a 4.3% increase in the past 24 hours, trading above the $80 mark, which raises the likelihood of a bullish breakout above a significant resistance level this week. Trading volumes surged by 76%, reaching $4 billion, which constitutes over 8% of the token's circulating market cap.

Transaction Volumes and Market Activity

In the previous week, Solana processed a total of 882 million transactions, just 8% shy of its all-time high from early February. February's transaction volumes surpassed those of July 2025, when Solana was trading at $172. Such high transaction volumes typically indicate a bullish market, suggesting increased interest from speculators and decentralized finance (DeFi) activities.

Price Action Analysis

Despite the recent retreat from the $90 resistance, SOL has found support at the $80 level. The price has oscillated between $76 and $90 for over a month. The recent spike in trading volumes indicates strong buy orders at the $80 level, suggesting a potential for upward movement.

Technical Indicators

The Relative Strength Index (RSI) has recently sent a buy signal, indicating that bullish momentum may be building. If the RSI surpasses the 60 level, it would confirm increasing bullish sentiment, potentially leading to a retest of the $90 resistance.

Short-Term Outlook

Currently, a buy signal has emerged on the hourly chart, indicating strong buying interest. Analysts expect a retest of the $90 area within the next 24 to 48 hours. Any pullbacks below $87 that bring SOL back to $80 could present a favorable entry point, with a risk-reward ratio of 3x if the take-profit target is set at $92. A breakout above $90 could lead to a move towards $100 in the near term.

Conclusion

Overall, Solana's recent price action and transaction volume trends suggest a potential bullish reversal, especially if the $80 support holds and the price breaks above the $90 resistance level.