5 hours ago
2
Solana (SOL) has crashed significantly, falling more than 20% to trade at $97. This is the lowest in more than 14 months. The decline is part of a wider market sell-off, precipitated by the dreads of an imminent financial crisis as well as rising global trade tensions.
Despite the steep decline, investors remain hopeful, albeit cautiously. Metrics show that active addresses on the Solana network have fallen to 4.44 million, down from January’s peak of 9 million. The decline shows users are waiting for clearer signs of recovery before reengaging with the network.
Technical pointers also indicate that the recovery might be just around the corner. Solana’s Relative Strength Index (RSI) has dropped below 30, meaning that the asset is oversold. Previously, levels like these have generally led to price reversals, and investors are hoping history will repeat itself.
The $100 mark now stands as a key level for SOL. A break above it could restore confidence and attract more buyers. On the other hand, a further slide below $90 would deepen the downtrend and challenge bullish expectations.
Even with the current weakness, Solana’s strong community of holders continues to support the project. If market sentiment improves, SOL could see a quick recovery. But for now, all eyes are on global financial cues and whether Solana can hold above critical support levels.
English (US) · 