Solana Price Struggles to Recover After Transaction V1 Upgrade
Solana's price has been struggling to recover from its recent dip, currently trading at $96.98 after a 3.49% drop. Despite the Transaction V1 upgrade on mainnet, which increased the maximum transaction size and expanded support for complex decentralized applications, the asset remains under pressure.
The update, activated on September 15, 2026, allows for more efficient processing of transactions with larger data capacities, including zero-knowledge proofs and advanced DeFi protocols. However, this development has failed to lift sentiment, and the price continues to consolidate in a range between $94.16 and $99.42.
Technical indicators are bearish, with multiple sell signals emerging as negative momentum deepens near support. The asset is trading below both the MA-20 and MA-50 on the hourly chart, indicating sustained intraday and short-term weakness.