thecryptobasic.com 
Solana market sentiment has turned sharply bearish amid its ongoing price decline, a new study from on-chain analytics platform Santiment confirms.
In particular, social media negativity has reached its highest level of 2026. Meanwhile, trading volume has fallen to its lowest point of the year.
Despite growing narratives around tokenized stocks and real-world asset (RWA) adoption on Solana, $SOL has yet to post meaningful price gains. Santiment said the lack of price momentum has left many traders frustrated.
Meanwhile, the firm also noted that periods of extreme pessimism and weak trading activity have historically preceded unexpected price rebounds.
Solana Volume Slumps, Negative Sentiment Surges
According to Santiment, Solana is seeing a rare combination of falling market participation and rising bearish sentiment. The platform said social media discussions about $SOL recorded their most negative day of 2026, while trading volume dropped to its lowest level of the year.
The accompanying chart shows $SOL trading around $77.80, with seven-day trading volume at roughly $2.27 billion. Trading volume has been declining since late January. Meanwhile, negative sentiment climbed to its highest level since November 2025, reaching a reading of 14.05.
Santiment said much of the pessimism stems from disappointment that bullish narratives around tokenized equities and RWA adoption have not translated into stronger price performance.
Solan Price
At press time, Solana is trading at $78.18, up a modest 0.72% over the past week and 16% over the past month. However, $SOL remains down 37% since the start of the year and 49% over the past 12 months.
As a result, many long-term holders are still sitting on significant losses, further reflected in the extremely bearish market sentiment.
Solana Chart by TheCryptoBasic
Santiment Sees Potential Contrarian Setup
Despite the weak sentiment, Santiment said the current setup could favor a potential recovery. The analytics firm noted that periods of extreme fear and thin trading activity often drive retail investors to the sidelines.
However, if buying pressure returns, larger market participants can move prices more easily under such conditions.
Santiment added that rebounds often occur when traders least expect them. It said Solana may be entering a “low-attention, high-FUD” environment, where prices could rise if sentiment improves.
However, the firm did not predict an imminent rally. Instead, it said the current conditions are historically worth watching for contrarian investors tracking shifts in market psychology.
Can $SOL Hit $100 Soon?
In a recent commentary, market watcher Michaël van de Poppe argued that conditions are starting to become interesting for Solana at current price levels.
In his view, holding the $73-$76 price range and moving higher would provide a strong signal that the market is ready for a run toward the psychologically important $100 level.
