$86 SOL, do you dare to buy the dip?

Institutions sold $11.7 million in one hour, RSI directly broke below 17, Firedancer 1.0 just went live on the mainnet— but just now, on-chain active addresses reached 1.97 million, DEX weekly trading volume hit $11.8 billion, a new high for the year.
First look at the surface: price is falling, but the ecosystem is crazy.
In the past 24 hours, it dropped 3.6%, bottomed at $85.69, market cap is $49.7 billion, trading volume is $3.48 billion. The candlestick chart shows: dropped from 294 to over 70%, the downtrend channel has been broken, now bouncing within the $80-$97 range. Is Solana about to die?
First thing: institutions and traditional finance are secretly using Solana as a settlement layer.
Western Union issued USDPT stablecoin on Solana, connecting cash networks in over 200 countries. State Street and Galaxy are working on tokenized funds. Bullish tokenized 151 million shares. Securitize + Jupiter + Jump Trading are building on-chain regulated equity trading.
Second thing: Firedancer 1.0 is live, testing TPS over one million.
Solana active developers account for 23%, a 45% quarterly growth, the number of new developers has surpassed Ethereum. Google Cloud partnered with Pay.sh for AI proxy payments, Jupiter launched Limit Order V2 + anti-front-running.
The fundamentals are at their strongest in 2025-2026, but the price has fallen 70% from ATH.
Third thing: a rare extreme technical signal—RSI dropped below 17.
This is extreme oversold, the ultimate panic sell-off.
But don’t forget—extreme oversold often precedes a violent rebound. MACD negative value expanded to -1.13, one-hour net outflow of $11.7 million, institutions and whales are cutting positions.
On one side:
- On-chain active addresses 1.97 million, weekly DEX volume $11.8 billion (+19%)
- RWA total value exceeds $2.8 billion, ETF total scale breaks $1.05 billion
- Developer growth surpasses Ethereum, ecosystem healthier than ever
- $86 is down 70% from ATH, valuation back to early 2024
On the other side:
- RSI below 17, extreme fear
- FTX still selling, PYTH, PUMP unlocks in May
- A wealth management firm disclosed a $283 million loss on SOL holdings, possibly forced to sell
- New Fed chair taking office, macro uncertainty high
Key level: $86, the last psychological defense line for bulls and bears.
Resistance above: $89.9 → $97.5 (breakout signals reversal) → $106 → $120
Support below: $83 → $80.5 → $78 (0.618 Fibonacci support)
Short-term traders:
Wait for 83-80.5 to enter in 2-3 batches, stop-loss below 78, first target to take half at $97.5. If volume stabilizes at $97.5, chase longs, stop-loss at $94, look for $106-$120.
Swing traders:
Wait for daily close above $97.5 before entering, use dynamic take-profit to hold, target $120-$150. Current volatility is for patient traders.
Long-term believers:
Invest blindly below $86. Solana is the most certain infrastructure chain for institutional entry in 2026. But remember, always keep 30% cash for black swan events.
SOL now is like ETH at the end of 2023—
Everyone was criticizing it as a “performance toilet,” but once institutions entered, the price went from $20 to $200. #Gate广场五月交易分享 #CLARITY法案参议院通关 $BTC $ETH $SOL