Solana Faces Downward Pressure Amid Long-Term Holder Selling and Declining New Investor Interest
Main Idea
Solana (SOL) is experiencing downward pressure as long-term holders sell and new investor interest declines, with its price falling below $200 and facing potential further losses if key support levels are breached.
Key Points
1. Solana's price has dropped below $200 due to increased selling by long-term holders and a decline in new investor activity.
2. The liveliness metric indicates heightened selling pressure, contributing to the bearish trend.
3. New Solana addresses have decreased by 1.4 million over 48 hours, reaching a monthly low, further weakening market momentum.
4. SOL is trading near $187, below the $188 resistance level; a drop below $176 could deepen losses, while reclaiming $188 may signal a recovery toward $201.
5. Monitoring these factors is crucial for understanding Solana's future market trajectory.
Description
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