Solana Price Prediction: SOL Faces Breakdown Risk as SOL Strategies Buys ZK Firm

Key Insights:

• SOL Strategies agreed on a $1.2M Darklake Labs asset deal to add Solana-native ZK privacy tech and research talent.
• SOL price fell as bearish chart signals, weak volumes, and risk-off macro pressure pointed to further downside.
• Solana network activity declined for five straight weeks, while derivatives data showed negative funding and lower open interest.

Solana price traded near $80 on April 7 after losing ground from its March high and slipping back. The decline came as traders responded to a weaker risk backdrop, fresh pressure from rising oil prices, and security concerns inside the Solana ecosystem. An exploit valued at $280 million to $285 million tied to Drift Protocol added to the pressure and weighed on sentiment around Solana-based DeFi activity.

Even so, a separate corporate update showed that SOL Strategies is still expanding its Solana exposure through a deal for a zero-knowledge technology firm.

SOL Strategies Adds Darklake Labs

SOL Strategies has entered into a definitive agreement to acquire Darklake Labs’ assets for $1.2 million. The payment includes $200,000 in cash and $1 million in common shares, with the share portion subject to a 4-month statutory lock-up. The company said the deal will bring Darklake’s privacy technology and research team into its Solana-focused platform.

Darklake Labs is known for Zyga, a zero-knowledge proof system built for the Solana blockchain. The system is designed to support private transaction execution and reduce front-running and sandwich attacks during trade execution. SOL Strategies also said Darklake placed second in the DeFi track of the Solana Radar Global Hackathon, joined the Colosseum Accelerator, and maintains research ties with two universities in Brazil.

Solana Price Stays Under Pressure

Solana price action remained weak amid macro tensions, which moved traders away from risk assets. Reports cited rising concerns around the U.S.-Iran conflict and threats tied to the Strait of Hormuz. Crude oil prices moved sharply higher, with one report noting a nearly 30% rise since the war began, while another said West Texas Intermediate climbed above $116 on April 7.

Higher oil prices also shifted attention back to inflation risk. That reduced expectations for Federal Reserve rate cuts this year and added pressure across crypto markets. Solana also faced network-specific stress after the Drift Protocol exploit, which was described as one of the largest breaches on Solana since the Wormhole incident.

Derivatives and On-chain Activity Weaken

Data from CoinGlass showed that Solana’s weighted funding rate moved further into negative territory. Open interest also fell to about $4.92 billion from a March high of $5.92 billion. That combination showed more aggressive short positioning and weaker demand for long exposure during the latest market pullback.

On-chain data also pointed to softer activity. Artemis data showed transaction volumes declining for five straight weeks, while weekly trading volumes dropped from $34 billion in late February to $23 billion last week.

Solana Price Pattern Points to Lower Support

Daily chart analysis showed Solana forming a head-and-shoulders pattern, which is often tracked as a bearish setup. The neckline sat near the $75 to $78 support zone, an area bulls have struggled to hold in recent sessions. A confirmed move below that region would place focus on lower support targets.

One bearish projection pointed to $60 by measuring the pattern height from the current price area near $79. Another analysis placed the next downside target near $67 if Solana’s price loses the $78 floor.

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