Solana's price has surged 3% in the last 24 hours, trading at $143.19 as of 3:45 a.m. EST. This increase coincides with a 16% rise in daily trading volume, reaching $5.35 billion.
The uptick in SOL's price occurred even as South Korea's Upbit, one of Asia's largest cryptocurrency exchanges, halted deposits and withdrawals following a security breach. Hackers compromised a hot wallet linked to the Solana blockchain, reportedly stealing over $38 million worth of tokens. The stolen assets included Solana-based tokens such as Official Trump (TRUMP), Bonk (BONK), Jupiter (JUP), Double Zero (2Z), and several other smaller assets.
Upbit (@Official_Upbit) has been hacked — 54B KRW (~36.8M USD) in assets on #Solana have been transferred to unknown wallets. https://t.co/plbmBz2G4N https://t.co/YOHoqDVfqa pic.twitter.com/DM5BxSTtXA
— Lookonchain (@lookonchain) November 27, 2025
Upbit promptly moved the remaining funds to cold storage and initiated collaboration with on-chain investigators to track the stolen tokens. The exchange also assured users that they would be compensated for their losses, a measure that helped to mitigate panic selling across the broader Solana market.
Despite the security incident, Solana's price experienced only a brief dip before recovering. This suggests that traders perceive the exploit as an issue with exchange security rather than a fundamental problem with the Solana blockchain itself. SOL buyers viewed the initial price drop as an opportunity to acquire the asset at lower levels.
Solana On-Chain Signals Strength Post-Exploit
Network activity on Solana remains robust, with strong transaction counts fueled by memecoin trading, decentralized finance (DeFi) swaps, and NFT-related transfers. This indicates that regular users continue to engage with decentralized applications (dApps) on the chain, even as security teams actively monitor the hacker wallets.
While Upbit's decision to suspend deposits and withdrawals for affected tokens may temporarily reduce on-chain flows from Korean traders, other global exchanges and on-chain venues continue to offer substantial liquidity for Solana assets.
Solana Price Technical Outlook
The Solana price is currently trading around $143, positioned between the 50-day simple moving average (SMA) near $169 and the 200-day SMA close to $179 on the daily chart. This indicates that SOL is still in a corrective phase following its failure to maintain levels above $200 in late October.
However, the long-term bullish structure remains intact, provided the price stays above the significant support zone between $95 and $100.
The chart also reveals that Solana recently formed a rounded bottom pattern after a sharp decline from the $200 region. Buyers intervened near the $100 mark, driving the price back above $140.
Prior to the recent correction, a "Golden Cross" occurred when the 50-day SMA moved above the 200-day SMA, signaling the commencement of a strong uptrend that propelled SOL to a peak near $295.
Currently, a "Death Cross" has formed as the 50-day SMA is trending downwards and threatening to cross below the 200-day line, indicating that bears still hold some influence in the short term.
Should the Solana price fail to reclaim the $169–$179 moving average band in the near future, sellers might attempt to push the cryptocurrency back towards the recent low of approximately $95, where the chart identifies a key horizontal support level.
The Relative Strength Index (RSI) is situated in neutral territory, hovering around the mid-40s, suggesting that the market is neither overbought nor oversold.
Meanwhile, the MACD line is positioned slightly below the signal line in negative territory, hinting that bearish pressure has not entirely dissipated. The Average Directional Index (ADX) above 40 indicates that the current downtrend still possesses strength, even after today's rebound.
Solana Targets $180–$200 If $169 Resistance Breaks
For a bullish scenario, traders will be monitoring for a daily close above $169. Such a move would place Solana's price above the 50-day SMA and potentially open the path for a progression into the $180–$200 resistance band.
A decisive break above $200 could then target the previous high of approximately $295 in the coming weeks. Conversely, a decline back below $120 would serve as an early indicator that bears are regaining dominance, increasing the risk of a slide towards the $100 and $95 support levels.
As long as SOL maintains its position above this base and continues to form higher lows on the daily chart, many traders are likely to view any dips as buying opportunities.