Cut the price is down 1.5%, to $78.82, down from $80, and outperforming the broader market, largely due to the continued fall in organics. Spending $285 million on the Solana-based Drift Protocol on April 01, 2026, is still huge. Hacking by North-Korean hackers dropped Drift’s TVL from $530 million to $230 million, causing a financial crisis and public distrust. This has also pressured the price of SOL as investors reassess the risks of environmental protection.
As a result, the SOL price is showing structural weakness during a time when the broader market is trying to stabilize. Therefore, the increased stress on the sell side is creating a cautious outlook in the short term.
Price Pattern Shows Weakness Near Key Support
Solana is trading in a key area around $75-$78, while the current price is around $78-$80, showing signs of weakness after failing to support its recovery above $85. As the broader market attempts to stabilize, SOL continues to decline, reflecting a lack of strong consumer confidence at key levels. This is more than just movement – it’s a mandatory part of support, where catching or losing this means another move.
On the daily chart, SOL has come down from the upward trend and is now consolidating above the support of $77, which corresponds to the high levels in the short term. Repeated repetitions of this section without a strong pulse indicate significant weakness. The RSI is below neutral, indicating a strong finish, while the trend is showing a bearish trend after being rejected near the $90–$95 resistance.
If the support fails, lower targets open at $73, followed by a deeper move to $67–$70. On the other hand, SOL needs to bounce back to $85–$86 to regain strength in the short term, with $93–$95 serving as the next resistance point.
TVL Decline Signals Capital Outflow
TVL shows the actual amount invested within the environment. The decrease in this scale indicates the decrease in DeFi services, the decrease in users and the Capital being surrounded in the network. DeFiLlama’s data shows a steady decline in Solana’s TVL, dropping from a high of $9 billion to around $5.5-$6 billion in recent weeks.
This shows that the withdrawn funds can be converted into stablecoins or other assets and converted into other ecosystems. As TVL is a reliable metric, new capital slows down, and existing ones reduce exposure. Therefore, the recent decline, combined with the price being close to support, indicates weak demand while supply is rising.
What’s Next—Will SOL Price Protect Above $85 This Week?
Solana’s price is not limited to price pressure; shows a significant decline in financial participation. A decline in TVL indicates that the amount of money and user activity within the ecosystem is decreasing, which reduces the strength of any recovery.
At the same time, the price is holding close to the important support area of about $75-$78, but without a strong follow-up. This combination – a weak pattern on the chart and a falling TVL – indicates that the current sector is stronger than the strong fundamentals.
In practical terms, this reduces the loudness in the near future. Although SOL is trying to pay back, the lack of funds makes it difficult to continue. In order to move forward, the price should stabilize when the TVL stops falling or starts to recover. Until this change occurs, the current setup points to slow, volatile prices while the residual risk remains elevated rather than a clear reversal.
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