Key Highlights
- SOL reached $80.29 after breaking through the $88 and $85 price levels
- The hourly chart shows a bearish trend line positioned at $85.50 serving as near-term resistance
- Last week brought $24 million in net inflows to Solana ETFs, though the week closed with consecutive outflow days
- Derivatives Open Interest climbed 1% to reach $5.01 billion, while traders saw $15.52 million in long liquidations during a 24-hour period
- Wallet count for RWA tokens on Solana surpassed Ethereum’s total, though Ethereum maintains significantly higher asset values at $15.5 billion compared to Solana’s $1.8 billion
The past week brought significant downward pressure on Solana, with the asset declining to $80.29 before initiating a modest recovery. Current trading activity places SOL beneath the $85 threshold and below the 100-hour simple moving average.
This decline materialized after SOL failed to maintain levels above $90. The asset moved through both the $88 and $85 zones before establishing its recent bottom around $80.
Hourly chart analysis reveals a bearish trend line positioned at $85.50, which currently serves as the primary near-term obstacle. The 50% Fibonacci retracement level from the latest decline appears at $87.20, while a more substantial barrier exists at $88.80.
Everyone Laughed When I Said Exit #Solana at $250 – That Laugh Cost Them -73%
Called the exit at $200-$250 when everyone was dreaming $1000.$SOL dumped 77% from $295 to $67. Exactly as I warned.
Now price has strongly bounced from the 0.50 Fib retracement and holding above… https://t.co/dO6qkKzIef pic.twitter.com/b4XtVPzPRQ
— Crypto Patel (@CryptoPatel) March 6, 2026
Breaking above $88.80 would open pathways toward $95 and potentially $102. Conversely, movement below $80 would bring the $72 and $65 support zones into focus.
Monday brought approximately 2% gains to SOL following four consecutive sessions of declines. The overall trend continues to show bearish characteristics, with the coin positioned beneath its 50-, 100-, and 200-day EMAs.
The RSI indicator registers at 43, remaining below the 50 neutral threshold. The MACD histogram displays contraction, indicating diminishing bullish momentum.
Mixed Dynamics in Solana ETF Activity
Current holdings in US spot Solana ETFs amount to approximately $800 million worth of SOL. Cumulative net inflows reached $957 million through Friday, demonstrating that institutional participants maintained their positions throughout the recent price decline.
The previous week delivered $24 million in net inflows. The week concluded with outflows totaling $5.23 million and $8.23 million on the final two trading days.
Market analysts attribute the late-week outflows to wider market pressures stemming from oil price increases and heightened geopolitical tensions.
SOL derivatives Open Interest advanced 1% over 24 hours to $5.01 billion. The funding rate shifted from -0.0161% to -0.0006%, indicating diminished bearish sentiment among traders.
The same timeframe witnessed $19.79 million in total position liquidations. Long positions accounted for $15.52 million of these forced closures.
RWA Wallet Milestone: Solana Surpasses Ethereum
Solana now hosts 154,942 wallets containing tokenized real-world assets, exceeding Ethereum’s count of 153,592. This marks the initial instance where Solana has taken the leading position in this particular metric.
BREAKING: Solana flipped Ethereum in total RWA holders for the first time, according to @RWA_xyz 🤯 pic.twitter.com/cOQ4VezJn2
— Solana (@solana) March 7, 2026
This expansion stems primarily from retail market participants acquiring tokenized equity shares of corporations like Tesla and Nvidia via Solana’s efficient, low-cost infrastructure.
Ethereum continues to dominate in total tokenized RWA value with $15.5 billion against Solana’s $1.8 billion. Ethereum’s ecosystem encompasses 663 tokenization initiatives while Solana hosts 345 such projects.
Major institutions including BlackRock and Fidelity leverage Ethereum for offerings such as tokenized Treasury securities and money market instruments. Solana has attracted certain institutional deployments from BlackRock, though its RWA sector remains predominantly retail-focused.
The initial support threshold for SOL appears at $78.35, representing the final significant floor before reaching $67.50, which corresponds to the February 6 low point.
