SOL Reclaims $72 as Onchain Data Flags Fading Momentum
By Alphacino Editorial Team ·
Quick Take
SOL bounced back to $72 on tokenized stock activity, but shrinking TVL and DEX volumes are flashing warning signs.
Solana clawed back the $72 level this week, giving bulls something to cheer about after a rough stretch. The catalyst was a surge in tokenized stock trading activity running through the Solana network, which injected fresh volume and renewed interest from traders who had been sitting on the sidelines.
But not everyone is convinced the recovery has legs. Onchain analysts are pointing to a split picture: while the price moved up, total value locked (TVL) across Solana DeFi protocols continued to slide. Decentralized exchange volumes followed the same trend, falling rather than rising alongside the token price — a divergence that historically signals fragile rallies rather than genuine trend reversals.
The fading momentum narrative is gaining traction among data watchers. When price climbs but network activity contracts, it typically means the move is being driven by speculative positioning rather than real demand growth. That makes $72 a level to watch closely — if Solana can hold it while TVL stabilizes, the bull case strengthens. If not, the recovery may prove short-lived.
For meme coin traders on Solana, the macro picture matters. A weak SOL price environment compresses the entire ecosystem, making launches harder and exits messier. Watching Solana onchain metrics over the next 72 hours will be key to gauging whether this bounce has staying power or is just a dead-cat move.
Stay ahead of Solana meme coin moves at alphacino.io