Solana price is currently trading at $82 after a 3.5% jump today, but the recent Drift Protocol violation and being the only coin in the top ten to perform negatively makes expectations slightly bearish. The extent of the damage reveals darker details.
The Drift Protocol’s $285 million extortion, which was executed in about 12 minutes on April 1, was traced to North Korea-linked hackers who spent six months infiltrating the protocol’s trust infrastructure.
It’s crazy
The Lazarus Group has stolen $7 billion in crypto since 2017
This is more than the annual GDP of nearly 36 countries
The biggest hack was Bybit ($1.5 billion) in 2025
Now, Team Drift said this with medium-high confidence
They were hacked by the same North… pic.twitter.com/VD0pGaSGRe– Jussy (@jussy_world) April 5, 2026
The Drift Team confirmed that the attack erased more than half of the total value locked (TVL), which stood at $550 million, thanks to a vulnerability in the “durable nonce” functionality, the use of a fake Oracle asset called CarbonVote Token, in addition to hacking multi-signature (multisig) wallet approvals.
Now the question arises: can the SOL price structure consolidate at critical support levels before the next downside wave?
Solana Price Expectations: Hold at $80 or Drop to $70?
SOL price stabilizes at $82 after breaking through the key near-term support level. The 50-day moving average limits upside opportunities at $88, creating a tight range that historically ends with a strong move in one direction. Trading volume during the sales wave between April 1 and 4 saw a notable increase and decrease, indicating distribution operations.
The best case for SOL price currently is to hold the $80 level as a base, reclaim the $88 resistance as DeFi sector sentiment recovers, and target the $95-100 range. Alpenglow’s upcoming update, which promises to complete transactions in less than a second, is a positive incentive if developers continue to engage.
SOL could also enter a consolidation phase between $78 and $88 for several weeks while the market absorbs the security concerns. Institutional expectations that the price would reach the $150-$260 levels by the end of 2026 remain valid, but appear exaggerated at current levels.
However, the scale and complexity of the operation attributed to North Korea continues to undermine confidence in the Solana DeFi ecosystem. The price’s failure to hold the $78 level opens a path directly towards $70, a level that has not been tested since the last major collapse in sentiment.
The uncomfortable truth is that most of the funds drained were transferred to the Ethereum network immediately after the hack, meaning that the selling pressure on SOL itself was primarily driven by sentiment and not forced liquidation. This is a double-edged data point; Structural damage is reputational damage, which takes longer to repair.
What could invalidate the bearish hypothesis? A firm timeline for a resolution by Drift, progress on the Alpenglow update, or an overall crypto market recovery above key Bitcoin resistance levels. Until one of these things happens, the 50-day moving average at $88 will remain a ceiling for the price.
Maxi Doge targets early growth opportunities with Solana tested at critical levels
SOL’s current situation, stuck below the moving average, facing reputational damage, and trading within a tight support range, represents an environment in which upside asset bias has historically increased.
The risk-reward relationship at $78 is not attractive to new entrants. Early-stage sell-offs present asymmetric growth opportunities that established major currencies cannot replicate at this stage of the cycle. The broader market is testing key levels everywhere, putting pressure on upside opportunities for mature assets.
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The project runs exclusive trading competitions for holders with rewards for rankings, a Maxi Fund for liquidity and partnerships, and a marketing engine based on memes and virality.
For traders watching SOL support levels bleed and looking for early investment opportunities uncorrelated with overall market movement, examining Maxi Doge before the next presale close may be an option.
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