Altcoins News
By Evie Vavasseur
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Solana (SOL), the high-performance blockchain often touted as an "Ethereum killer," is facing mounting pressure as selling activity spikes and investor sentiment begins to shift.
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After reaching highs near $300 earlier this year, Solana has since entered a strong downward trajectory.
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One of the major reasons behind this weakening price action is the shift in on-chain activity.
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Adding to the concern is the massive outflow of bridged cryptocurrencies — digital assets transferred across different blockchains — from the Solana ecosystem.
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While the broader sentiment may appear grim, it’s not entirely one-sided. Market analysts are pointing to a technical formation known as a cup and handle pattern on the weekly…
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The Relative Strength Index (RSI), a momentum indicator, is also dipping toward the lower end of a descending channel.
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It’s also important to consider the ongoing competition between Solana and Ethereum, particularly in terms of liquidity and network usage.
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Despite the current market pressure, many long-term investors remain cautiously optimistic. The $250 target, though distant, is still considered achievable by some, provided…
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For now, all eyes remain on the $140–$145 support range. If Solana can defend this level and attract fresh buying interest, a rebound toward $160 could materialize sooner than…
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As always, crypto markets remain unpredictable, and traders are urged to proceed with caution, especially in such highly volatile conditions.
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