Introduction
Solana [SOL] has been struggling recently, and its price has dropped a lot. At the same time, its trading volume has fallen by 99%, which means fewer people are buying and selling it. This has made investors worried about whether Solana will go back up or keep falling. The next few days will be very important for deciding what happens next.
Solana Faces Increasing Pressure as Volume Declines
Solana’s price dropped 15.56% in just one day, pushing it below $150 and erasing its gains from earlier this year. Over the past week, it has lost almost 20%, making it one of the worst-performing cryptocurrencies right now. At the same time, the amount of Solana being traded has dropped from $2 billion in November to just $14.5 million. This is a huge drop and suggests that fewer people are interested in trading SOL . If this continues, SOL might have trouble staying at its current price.
Key Support Levels in Focus as Solana Struggles to Recover
For Solana to bounce back, it needs to hold on to important price levels where buyers usually step in to stop it from dropping even more. Since reaching $295.83, Solana has struggled to stay at a stable price, making it easier for big price drops to happen.
Crypto experts pointed out that SOL’s trading volume has dropped a lot, which is a bad sign for its price. Right now, SOL is trading at $138.72, which is an important level to watch. If buyers step in and push the price higher, it could help SOL recover.
However, if Solana keeps falling, some investors who have been holding it for a long time might start selling, which could cause an even bigger drop. SOL has already lost $40 billion in market value this month, so it really needs strong buyer support to turn things around.
Is There Hope for Solana to Bounce Back?
In the past, Solana has struggled to recover after big price drops. Many times, when its price falls, it takes a long time for buyers to come back. Some believe that weak holders have already sold their coins, which could mean that SOL is getting closer to a recovery.
Even though trading volume has dropped by 99%, the total amount of on-chain activity has recently increased, reaching $5.28 billion. This means that some traders are still interested in SOL , but it’s too early to say for sure if it will start going up again. If more buyers don’t step in soon, the recent price increase might just be a small bounce instead of a real recovery. For SOL to truly come back, it needs strong accumulation, where big investors start buying and holding their coins instead of selling them.
Conclusion
Solana is in a tough spot, with trading volume at its lowest and prices dropping. Some investors are still buying, but it’s unclear if that will be enough for a real recovery. If SOL wants to bounce back, it needs strong buying support to stop further losses. The next few days will be very important to see if SOL can recover or if it will continue to fall.
