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Reading: Solana Struggles to Hold Key Support as Locked Value Plummets
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COINTURK NEWS > Solana (SOL) > Solana Struggles to Hold Key Support as Locked Value Plummets
Solana (SOL)Technical Analysis

Solana Struggles to Hold Key Support as Locked Value Plummets

In Brief

  • Solana’s total locked value has dropped over 50% since last year's quarter, reflecting weakened demand.

  • The $77 support level is now crucial after technical breakdowns below former milestones.

  • Market watchers remain cautious, but some see recovery potential if Solana regains lost ground.

Ömer Ergin
Ömer Ergin 3 months ago
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Bitcoin’s inability to stay above $67,400 in the wake of the latest inflation report has sent ripples through the cryptocurrency market, with altcoins posting modest losses and Solana continuing to linger around the $80 mark. As the week got underway, Solana’s future trajectory for the month became a hot topic, with investors questioning whether it can break free from its current doldrums—or if further declines are on the horizon.

Contents
Solana Faces Steep Drop in Locked ValueSolana’s Technical Picture Signals Caution

Solana Faces Steep Drop in Locked Value

Trading on U.S. stock exchanges opened to slight losses this morning, reflecting broader market caution. Solana’s price hovered at $80, but the network’s total value locked (TVL) continued its downward slide, now sitting at just $6.35 billion. This is a marked contraction from the robust $13 billion TVL logged in the final quarter of last year—a plunge of over 50% in only a matter of months. The evaporation of this capital underscores waning investor confidence and hints at persistent pressure on the platform’s growth prospects.

Although fee revenues on the Solana network have seen some recovery compared to January, they are still lagging far behind last year’s peaks, stuck at around half a million dollars. This marked slowdown points to reduced demand and lower on-chain activity, both of which pose ongoing challenges for the ecosystem’s vitality.

The outflows from decentralized applications on Solana’s network reinforce just how profoundly investor participation has dried up. Decentralized exchanges on the platform have been particularly hard hit, and the withdrawal of capital has dampened network activity. As a result, Solana’s “normal” price has now fallen below the psychologically important $100 mark.

Solana’s Technical Picture Signals Caution

From a technical standpoint, Solana faces an uphill battle. The $133 level, previously a crucial support, has been lost. Despite January’s promising rally, the cryptocurrency failed to establish a foothold above that threshold. Subsequent waves of liquidations in the derivatives market then dragged Solana below additional support levels at $118 and $98. Now, holding above $77 has become critically important; the token briefly dipped beneath this during the February 6 selloff, but for now, this support appears to be holding.

Numerous altcoins have shown a tendency to revisit the lows marked by the February 6 flash crash, and if Solana follows suit, $68 becomes the likely target. This would effectively erase most of the gains accrued during the previous bull run. Not long ago, Solana had been riding high thanks to excitement around innovative projects like PumpFun; now, its fate appears closely tied to Bitcoin’s ability to stay above $68,000.

At the time of writing, Bitcoin is still well above the $64,000 level and, ten minutes into the U.S. market open, is making a push to reclaim $67,500. The direction set over the coming hours will likely shape the rest of the week—and could determine where Solana heads next.

There is, however, a silver lining for Solana supporters: relative to Avalanche (AVAX), another major altcoin, Solana’s price has so far managed to avoid sinking close to bear market lows, maintaining a double-digit price even as AVAX trades near its troughs.

Still, some analysts are maintaining a degree of optimism. Martinez, a noted market commentator, anticipates that Solana can reclaim the $82 and $88 levels if current supports hold, potentially setting the stage for a recovery.

Martinez believes that if Solana manages to consolidate above key support, the network could regain important ground in the near term, with $82 and $88 emerging as potential milestones.

You can follow our news on Telegram, Facebook & Coinmarketcap & X
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 13 February, 2026 - 5:58 pm 13 February, 2026 - 5:58 pm
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