🔻 $SOL ’s DEX Volumes Plummet
Solana's price is flashing bearish signals as its DEX volumes plunged by $90 billion in two months. From a peak of $97.53B in January, volumes have now dropped to just $7.65B, raising concerns about weakening demand and potential sell-offs.
📉 Network Activity Declines
The broader Solana ecosystem is also slowing down. Active addresses fell from 6.2M to 230K, and new addresses dropped from 2.3M to 65K, signaling fading investor enthusiasm. This decline in user activity puts additional pressure on SOL price.
📉 Analysts Warn of a Crash to $80
CryptoPatel predicts that SOL, having broken below a rising wedge pattern, could fall by 35% to $84—a crucial support level. A failure to hold this level could trigger a sharper decline toward $40.
⚠️ Death Cross Confirms Bearish Outlook
Solana has also confirmed a death cross on its daily chart, typically a bearish sign. However, history shows SOL price often rallies post-death cross. If network activity picks up, this could mark a reversal.
Solana’s future hinges on rising network activity and renewed investor confidence. Without it, deeper corrections may follow.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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