Finance

Solana’s Price Plunge: Can SOL Defend $138, or Will Utility-Focused Remittix Steal the Spotlight?

Solana plummeted, triggering liquidations and testing critical support amid market volatility, as a new PayFi project emerges.

byAndres Castro

November 15, 2025, 11:31 AM

The official Solana logo is displayed on a bright smartphone screen over a dark, backlit keyboard. By sdx15 / Shutterstock.com.

Executive Summary

Solana (SOL) experienced a severe market downturn between November 13-14, 2025, plummeting from $156 to $138, triggering over $1.11 billion in liquidations and affecting 246,000 traders.

Solana faces a critical price test, trading below its 50-day and 200-day moving averages with its RSI below 50, and risks falling into double-digit territory if it fails to maintain the $138 support level.

Amid Solana’s struggles, the emerging utility-based project Remittix (RTX) is gaining attention for its focus on real-world crypto-to-bank infrastructure for global payments, with confirmed exchange listings and a CertiK audit.

The Story So Far

Solana’s recent market downturn and significant liquidations were primarily driven by a substantial sell-off of 193,000 SOL tokens by Alameda Research, exacerbating a supply glut, coupled with weak technical indicators signaling a lack of buying momentum, all set against a backdrop where investors appear to be shifting focus towards utility-driven projects over speculative assets.

Why This Matters

Solana’s recent market downturn and critical price test at the $138 support level signal significant instability, with a failure to hold this point potentially leading to a further fall into double-digit territory and a negative re-evaluation of its position as a high-growth crypto. This volatility, coupled with a massive liquidation wave, suggests a potential shift in investor focus towards utility-driven projects like Remittix, which emphasize real-world applications and stability over speculative growth, indicating a broader market trend towards fundamental infrastructure.

Who Thinks What?

Solana’s market trajectory indicates a significant risk of falling into double-digit territory, having experienced a sharp decline and facing a critical test to maintain the $138 support level, partly due to a supply glut from token dumps.

Technical analysts and analytics firms suggest that Solana is trading below key moving averages with a lack of buying momentum, warning that a break below $141 would expose the $138 level, and $130 is a significant danger zone if $138 fails.

Emerging utility-based projects like Remittix (RTX) offer an alternative narrative, focusing on building real-world crypto-to-bank infrastructure for global payments and attracting attention due to their emphasis on utility, security, and stability amidst broader market uncertainty.

Solana (SOL) experienced a significant market downturn between November 13 and 14, 2025, plummeting from $156 to a critical support zone around $138. This sharp decline triggered one of the cycle’s most severe liquidation waves, wiping out over 246,000 traders and forcing the closure of $1.11 billion in positions as trading volume surged to $8.3 billion.

Solana Faces Critical Price Test Amid Market Turmoil

The recent price trajectory of Solana suggests a distinct risk of falling into double-digit territory. The cryptocurrency nosedived to approximately $140.36, with reports indicating that Alameda Research dumped 193,000 SOL tokens, contributing to a supply glut.

Technical analysis shows SOL trading below its 50-day and 200-day moving averages, while the Relative Strength Index (RSI) has dipped below 50, signaling a lack of buying momentum. Analytics firms suggest that a break below $141 would expose the $138 level as the next crucial backstop, with $130 identified as a significant danger zone if $138 fails.

This timing is critical for Solana, often positioned as a high-growth crypto and a layer-2 alternative to Ethereum. Should it fail to maintain the $138 support level, the narrative surrounding its market position could significantly shift.

Emerging Utility Projects Offer Alternative Narratives

Amid Solana’s struggle, an emerging utility-based project, Remittix (RTX), is reportedly gaining traction. The platform, focused on PayFi, aims to build real-world crypto-to-bank infrastructure, presenting a narrative of stability amidst broader market uncertainty.

Remittix is described as a cross-chain DeFi project designed for global payments, distinguishing itself from protocols primarily focused on adoption. The project highlights confirmed listings on centralized exchanges and a full audit from CertiK, positioning itself for real-world use rather than speculative hype.

The platform claims to enable crypto-to-bank transfers in over 30 countries and targets the $19 trillion global remittance sector. Its focus on real-world utility and security, including a reported #1 ranking among pre-launch tokens by CertiK, is attracting early attention.

Market Dynamics and Future Outlook

While some analysts anticipate a rebound for Solana, its ability to hold the $138 support level remains paramount. The current market conditions highlight a potential shift in investor focus towards utility-driven projects like Remittix, which offer a different risk profile and a focus on fundamental infrastructure.