Altcoins News
By Pankaj K
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Price Trend Under Pressure. Solana’s price has dropped nearly 60% from its all-time high of $295, recorded in late 2024.
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Key Support Levels at Risk. The next major support level for Solana lies at the S2 pivot, which sits at $60, indicating a…
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Declining Network Activity. Adding to Solana's challenges is the noticeable decline in network activity.
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Market Outlook. Solana’s recent price performance and the declining network activity have created a cautious…
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Solana (SOL) is facing a period of significant bearish pressure, with its price continuing to slide in a broader market downturn.
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On the daily chart, the price action indicates a continued bearish outlook. After recent market movements, Solana is facing another round of selling pressure that could push the…
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The next major support level for Solana lies at the S2 pivot, which sits at $60, indicating a potential downside of nearly 50% from its current price of $124.
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However, not all indicators are negative. There is some hope for a potential recovery, as the Moving Average Convergence Divergence (MACD) shows signs of a bullish divergence.
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Adding to Solana's challenges is the noticeable decline in network activity. According to recent data, the number of active addresses on the Solana blockchain has plummeted by…
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Furthermore, the number of new addresses on the network has also experienced a decline, falling to just 2.6 million.
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As the broader cryptocurrency market continues to show volatility, Solana’s ability to maintain support at key levels will be crucial.
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