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Solana DEX volume doubles to $138B, but SOL price struggles near $87 after 55% crash

Technical Signals
23 Mar 2026
BeInCrypto
View Source
Neutral
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Solana's decentralized exchange (DEX) trading volume surged 103% to $138.4 billion in the week ending March 16, marking a one-year high despite the SOL price remaining subdued near $87 after a 55% drop from January highs. This volume rebound indicates growing on-chain activity, yet the price has not followed, reflecting a disconnect between usage and market value. Short-term holders are still underwater but may sell if prices rise toward $90-$95, while long-term holders are accumulating, withdrawing tokens from exchanges. The SOL price faces critical support at $85; a break below could lead to further declines toward $67, while a move above $97 is needed to confirm a bullish reversal.

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