SOL: Solana is a highly functional open-source project that leverages blockchain technology’s permissionless nature to provide decentralised finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation, headquartered in Geneva, Switzerland. The Solana protocol is designed to facilitate decentralised application (DApp) creation. It aims to improve scalability by introducing a Proof of History (PoH) consensus mechanism combined with the blockchain’s underlying Proof of Stake (PoS) consensus.
SOL has a market capitalisation of $37.38 billion as of date, while the total crypto market capitalisation stands at $2.12 trillion. On the daily chart, Solana is currently trading around $64.52. The broader crypto market has experienced a sharp correction, with SOL declining nearly 37% over the last 30 trading days amid geopolitical tensions and rising market uncertainty:
- Alpenglow and Firedancer upgrades are expected to enhance Solana’s speed, scalability, and decentralisation.
- Morgan Stanley has added Solana exposure to its crypto investment offerings for eligible wealth management clients.
- Solana leads DEX trading with a 31% market share and has recorded 58% growth in tokenised real-world assets (RWAs).
- Challenges remain as DeFi TVL declines, long-term holder participation weakens, and DEX market share continues to fluctuate.
Also Read: Top 10 DeFi Tokens to Invest in June 2026
Technical Chart of SOL
On the daily chart, SOL is trading below its Simple Moving Average (14- and 21-period) levels of $64.89 and $65.01, respectively, which may act as resistance in the coming sessions. Furthermore, on the daily chart, the Relative Strength Index (RSI) stands at 26.29, while the Stochastic Oscillator is at 45.01, indicating that SOL is in the oversold zone, with the RSI showing signs of shifting towards a positive trend.
Also Read: Top 10 Layer-2 Blockchain Cryptos in June 2026
Support and Resistance Levels
| Support 2 | Support 1 | Asset (Price) | Resistance 1 | Resistance 2 |
| $48.84 | $58.65 | SOL ($64.52) | $71.20 | $81.23 |
A move above $81.23 could increase the possibility of SOL testing the $96 level.
In the grand scheme of things, ZebPay blogs are here to provide you with crypto wisdom. Get started today and join 6 million+ registered users to explore endless features on ZebPay!
