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Solana is still holding strong on decentralized exchange activity, even as its weekly chart shows one of the most oversold readings in its history. Together, the two charts suggest Solana is keeping its onchain relevance while moving into a zone that could matter for a longer term price reset.
Solana Matches Ethereum and Layer 2s in Weekly Spot DEX Volume, Chart Shows
Solana generated roughly the same weekly spot decentralized exchange volume as Ethereum and its layer 2 networks combined, according to a chart shared by Solana Sensei citing Blockworks data.
The chart, titled “Solana: Total Spot DEX Volume Compared to Other Blockchains,” shows Solana posting about $13.6 billion in weekly volume in the latest reading. That placed Solana close to the Ethereum plus L2 category, while both tracked well above or near the broader group labeled all other chains during the same period.
Solana Total Spot DEX Volume Compared to Other Blockchains: Source: Blockworks,Solana Sensei on X
From a Solana focused view, the data suggests the network has remained one of the main venues for onchain trading activity even after earlier spikes cooled. The green Solana line shows several strong periods over the past year, including a major surge near early February 2025 and another stretch of steady volume through late 2025 and early 2026. Although weekly activity has pulled back from peak levels, Solana still appears to be holding ground against Ethereum’s wider scaling ecosystem.
The comparison also matters because Ethereum plus L2s combines several networks into one category, while Solana stands alone. Even so, the latest weekly figures show Solana keeping pace with that broader group. That points to continued strength in Solana based spot trading activity relative to other major blockchain ecosystems.
Solana Weekly RSI Drops to Rare Low as Chart Points to Possible Macro Bottom
Solana may be nearing a major long term turning point after its weekly RSI fell into a zone seen only once before on the chart, according to an update shared by WebTrend.
The chart shows Solana’s weekly RSI slipping into deeply oversold territory, near the same area that marked the 2022 bottom. At the same time, $SOL price has dropped sharply from its previous highs and now trades near the lower end of its broader weekly range. That combination suggests bearish momentum has stretched to an extreme level.
$SOL/USD 1W Chart: Source: WebTrend on X
WebTrend said this is only the second time in Solana’s price history that the weekly RSI has been this oversold. On the chart, the first case came near the 2022 low, which was followed by a strong recovery over the next cycle. Because of that, the current setup may point to a macro bottom forming or getting close.
Still, the chart does not show confirmation of a full reversal yet. Price remains below the declining weekly moving average, and the trend is still down. So even if a bottom is near, Solana may still spend time building a base before any stronger recovery begins.
From a predictive view, the chart suggests downside could be becoming limited compared with earlier stages of the decline, while the probability of a longer term stabilization phase appears to be rising. If RSI starts to turn up from this zone and price begins to hold higher lows, that would strengthen the case that Solana is moving through a bottoming process rather than continuing a straight decline.