- Santiment reported that Solana’s bearish sentiment reached its highest level of 2026, reflecting growing market pessimism.
- World.xyz announced plans to migrate from Solana to the newly launched Robinhood Chain just eight days after its debut.
- The Solana price is poised to validate its support strength near $75 after a major breakout from multi-month resistance.
Solana, the seventh-largest cryptocurrency by market capitalization, showed an insignificant loss of 0.03% on Thursday and is currently trading at $77.79. This formed a short-bodied neutral candle in the daily chart, indicating a lack of conviction from both buyers and sellers. However, Solana is facing heightened negative sentiment across social media platforms, paired with the lowest trading volume of the year. As the market often moves opposite to crowd sentiment, on-chain analytics platform Santiment highlights this setup as a sign of potential rebound.
Solana FUD Hits 2026 High Amid Weak Price Performance
On June 9th, the global crypto market cap witnessed a short uptick of 0.74% to reach $2.16 trillion. This uptick is yet to build bullish momentum as the crypto market is navigating through geopolitical uncertainty and broader bearish sentiment.
Similarly, on-chain analytics firm Santiment has noted increased market scepticism around Solana. On Tuesday, the daily reading of the bearish sentiment reached its highest level of the year, nearing 100 in the participants’ sentiment scale. Meanwhile, SOL’s daily trading volume hit its lowest level this year.
The network’s progress in tokenized stock projects and real-world asset (RWA) integration remains a key focus for market participants. These areas have driven significant project activity and attention. However, the token has continued to underperform in terms of price action, which has led to growing frustration among holders, as seen from the public comments.
Fewer transactions and more negative feedback in the market produces a situation of lower engagement. However, the Santiment analysis highlights this high-FUD and low-activity environment as a potential bullish contrarian signal.
Reduced retail participants have historically preceded upward price reversal, provided large holders accumulate.
Another element adding to uncertainty within the community stems from the recent actions of World.xyz. Just eight days after its widely noted debut, the prediction platform disclosed plans to fully relocate from Solana to the newly introduced Robinhood Chain. Following 24 hours-internal evaluation, the project made the decision and thanked the Solana Foundation and users for their previous participation.
World.xyz was initially offered through the Phantom wallet and website, and it utilized Chainlink oracles and Phantom’s stablecoin to run contracts for crypto movements and events, including the 2026 World Cup. This change has elicited mixed reactions from developers and users, with some stating that Solana was used primarily to gain early visibility.
Solana Price To Test Key Support Before a Leap to $100
In the past two weeks, the Solana price witnessed a significant rebound from $67.72 to $82.35— a 21.6% gain— before falling to its current trading value of $77.79. This recent upswing gave a decisive breakout from a downsloping resistance trendline, active since January 2026.
The current market pullback is heading to retest this breached resistance as potential support and validate its sustainability for higher growth. The momentum indicator RSI at 53 accentuates a neutral stance among market participants.
If the bullish momentum persists, the Solana price could rechallenge the $82.8 resistance zone and extend its recovery to $90 and $100.
On the other hand, the SOL price prediction is still holding below the 100-and-200-day exponential moving averages, indicating that the mid-to-long term trend is bearish. If the current retest drops below the downsloping trendline, the sellers could strengthen their grip over this asset for a continued correction trend.
