SOL at $88, are you going to buy the dip?

Public companies are nearly $1 billion in unrealized losses, major investors have sold off a net of $9.2 million in the past 24 hours, the price has fallen below $90, and RSI has dropped straight to 17.3—extremely oversold. But just five days ago, Visa, Western Union, and Meta all reached out to Solana, with Firedancer 1.0 just launched.

First, look at the surface: blood flowing in rivers, panic spreading everywhere.

In the past 24 hours, it dropped 3.6%, bottomed at $88.4, market cap fell below $52 billion, and net outflow was $9.2 million. The price has fallen nearly 70% from its all-time high of $294, with the average holding price for public companies at $232, now with unrealized losses close to $1 billion—ready to cut losses at any moment.

In May, ETF inflows exceeded $90M, with total inflows surpassing $1.05 billion, as institutions are buying against the trend. The candlestick chart shows that the price has been oscillating between $85 and $100 for a month; today’s decline increased volume, but the lower Bollinger Band was broken.

First thing: Payment giants are not here to just watch.

Western Union announced in May that it will launch stablecoin payments, connecting over 200 countries worldwide, exchanging cash directly for USDPT on Solana. Visa’s stablecoin settlement on Solana is running at an annualized volume of $7 billion. Meta supports USDC direct payments to Solana wallets in Colombia and the Philippines.

Second thing: Firedancer 1.0 is now live on mainnet.

On May 5, Firedancer officially launched on mainnet. TPS increased by an order of magnitude, stability greatly improved. Following that, Alpenglow consensus upgrade entered community validation, aiming to reduce transaction finality from 12 seconds to under 150 milliseconds—faster than Visa.

Third thing: RWA holders exceed 200k, and SOL-denominated TVL hit a new all-time high.

Don’t look at the USD TVL decline; the SOL-denominated TVL has already surpassed 80 million SOL, setting a new record. Total RWA locked value exceeds $2.5 billion, with over 200k holders.

On one side:

- The three payment giants are all in, Firedancer is live

- RWA + DePIN + AI Agents are blooming on multiple fronts

- Spot ETF inflows exceed $1.05 billion, institutions are buying against the trend

- Active developers increased by 45% this quarter, surpassing new Ethereum registrations

- SOL-denominated TVL hits a new high

On the other side:

- Public companies hold 6.97 million SOL, average cost $232, with unrealized losses near $1 billion

- Major investors net outflow of $9.2 million in 24 hours, selling pressure evident

- RSI dropped to 17.3, extremely oversold, short-term panic is rampant

- Price broke below $90, next psychological level is $85

Key levels: $88–$90, the last line of defense for bulls and bears.

Resistance above: $93–$94 → $97.5 → $100–$106

Support below: $85 (38.2% Fib) → $78–$80 (extreme limit)

Short-term traders:

At this level, RSI at 17.3, a technical rebound could happen at any time. But don’t rush to buy the dip—wait for an increase in volume with a bullish candle on the hourly chart or a retest around $85–$86, then enter with a stop loss at $82, targeting $93–$95.

Long-term players:

DCA below $85. Firedancer + Alpenglow + payment narratives are resonating strongly. Target $150–$200 by the end of 2026.