$SOL is facing a decisive moment as both on-chain data and technical structure weaken heading into mid-February 2026. A sharp decline in ecosystem activity and growing sell pressure from long-term holders have placed
$SOL at risk unless key support levels hold.
🔻 Liquidity Is Drying Up
Solana’s recent growth engine is losing momentum.
Weekly DEX volume dropped 20%, falling by $21.3B in just seven daysVolume declined from $95.6B to $74.3B, signaling reduced trader participationMajor Solana DEXs like Raydium and Jupiter saw weaker activityLow volume explains why recent price rebounds failed to break $89 resistance
Without strong liquidity, rallies are struggling to sustain follow-through.
🧠 Long-Term Holders Are Exiting
One of the most bearish signals comes from “strong hands.”
3–5 year holders cut their
$SOL supply by 25.5% in just over a weekMid-term holders (3–6 months) reduced positions by 14.2%This synchronized exit creates heavy sell pressure in a low-volume market
When long-term conviction fades, recovery becomes harder.
📊 Technical Outlook: $84 Is the Line in the Sand
Price structure has turned fragile.
Rejection at $89 confirmed bearish momentumHidden bearish divergence on the 12H chart signals weakening strengthA strong demand zone sits at $83–$84, with ~6.44M SOL accumulated there
🔹 If $84 fails: downside targets extend to $79, then $59
🔹 To flip bullish: SOL must reclaim $89 and close above $91, opening a path toward $106
⚠️ Final Take
Solana is at a make-or-break level. Falling DEX volume, long-term holder exits, and bearish technical signals suggest risk remains elevated unless buyers step in decisively at support.
📌 As always, DYOR — volatility is high, and trend confirmation is key.
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