Solana remains stable under massive DDoS attack, but SOL price tests the $126 support level
In the latest Solana news, the network is reportedly under a Distributed Denial of Service (DDoS) attack, with peak attack traffic reaching around 6 Tbps. As a result, the price of SOL is under pressure, and traders are debating whether the token's decline will accelerate.
As of Tuesday's press time, SOL was trading near the key support level of $126 after three consecutive days of decline, with a daily drop of about 1%. Derivatives indicators also show increasing bearish sentiment. This decline comes as the broader cryptocurrency market pulls back from highs, liquidity thins, and risk assets digest recent macroeconomic changes and ETF fund flows.
Latest Solana News: What Exactly Is Happening to Solana's Network and SOL Price?
DDoS attacks attempt to cripple a network by overwhelming it with excessive traffic, causing slowdowns or even outages. However, despite traffic reaching several terabytes per second, Solana's validators have so far maintained the blockchain's stable operation. According to FXStreet, the attack traffic has reached about 6 Tbps, with "billions of packets per second" being sent, but there have been no confirmed outages so far—a sharp contrast to the network congestion issues Solana faced in previous cycles.
However, price and position conditions present a different picture from the network's technical resilience. CoinGlass derivatives data cited in the report shows Solana futures open interest dropped about 3.6% in 24 hours to around $7.04 billion, while funding rates have turned negative (about -0.0078%), meaning short sellers must pay to maintain their positions.
On the charts, SOL is currently hovering near the $126 area, a level that saw multiple pullbacks in November and coincides with a local support range from late June. FXStreet's technical analysis warns that if SOL's daily close falls below this area, it could further drop to $107, then the psychological $100 mark, and if selling intensifies, possibly down to the S2 pivot support near $80.
How Will Successfully Defending Against a DDoS Attack Impact Solana's Long-Term Strategy?
After the Solana News, Will the Drop in SOL Price Turn Into a Deeper Crash?
In the short term, the market structure leans cautious. Momentum indicators show Solana's daily Relative Strength Index (RSI) is near 37 and still falling toward the oversold region; the MACD indicator is close to a bearish crossover, and the red histogram bars below the zero axis are increasing—all typical signals of strengthening downward momentum rather than accumulation.
If the $126 support fails completely, leveraged long positions may be forced to close, further accelerating the decline and validating the judgment of shorts who have already committed significant capital. The real risk of a crash lies here: not in the DDoS attack itself, but in market sentiment shifting from "buy the dip, strong fundamentals" to "exit before support collapses."
What Risks Should SOL Traders and Long-Term Holders Be Aware Of?
The main risk is mistakenly believing that "good network conditions" mean "the price has bottomed." In reality, even if Solana's validator nodes are operating normally, derivatives data, declining open interest, and macro liquidity changes could all lead to a significant drop in SOL price.
At present, the DDoS attack is merely a catalyst intensifying the market cooldown, not a fatal blow. Traders will closely watch whether the $126 level can hold, whether funding rates can normalize, and whether Solana can turn this stress test into another key milestone in its long-term "high performance, high resilience" development journey, rather than the start of a deeper collapse.
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Sam Cooling is the Editor-in-Chief of 99Bitcoins.com, based in London, UK. He leads our highly market-savvy news team, overseeing news strategy and content writing, and has over five years of experience in cryptocurrency news and crypto trading. Read more
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