Solana Falling Faster Than Gravity
Solana (SOL), a well-known high-speed blockchain platform, struggles below important resistance levels due to recent strong selling pressure.
The bears appear to be taking control as the altcoin struggles to sustain its upward momentum, putting a critical $180 support level in a problem. SOL is currently trading at about $183, but a further decline may be imminent given the most recent market signals that indicate growing pessimism. The continuous pressure highlighted traders might not be as hopeful about a speedy recovery, even though Solana has made prior attempts to surpass its all-time high.
Solana’s attempts to rally have encountered resistance in the $220 range in recent weeks. As the price has struggled to hold higher levels, bears have taken advantage of the situation and driven the price lower. A decline in buying pressure has exacerbated this resistance, suggesting a waning sense of bullishness.
Traders who had anticipated a quick upward movement may want to reevaluate their expectations given that several technical indicators suggest additional downside risk,
There are some liquidity concentrations around $175 as seen on the liquidation heatmap. Bears may try to push the price toward or even below this support zone, but it is evident that the $180 level is a key concern for Solana, even though this might offer some initial support if the price rises.
The cryptocurrency world has been in turmoil for a few weeks. Widespread losses and increased volatility are putting investor portfolios to the test and eroding trust in several assets. However, some cryptocurrencies can stand out amid this confusion, grabbing analysts’ attention and igniting investors’ interest.
On-chain activity has decreased by 7% over the last 21 days, with 5.37 million unique addresses completing at least one transaction on L1. Solana’s network revenue has fallen because of its low usage.
The SOL cryptocurrency’s performance has exacerbated this decline, as its value has decreased by 35% over the past 30 days. The network’s revenue has dropped by 24% since the start of December, according to data from Artemis.

