Categories
BLUE UPDATE

Solana’s Price Plunge: How Low Can It Actually Go?

Solana’s value has dipped to $136.92, erasing all gains after Donald Trump’s recent declaration concerning cryptocurrency reserves. This decrease, indicating a 3.69% decline over the past day, is linked to increased selling pressure and a drop in wallet activity, raising apprehensions about further losses if crucial support thresholds are broken.

The cryptocurrency has fluctuated between $132.46 and $145.08, battling to regain traction amidst a wider market correction as traders secure profits. Current support is observed between $130 and $135; falling beneath this range could trigger an additional decline towards $120 or below. Resistance is recognized at $145–$150, which must be reclaimed for a feasible resurgence.

Technical indicators expose a bearish outlook. The Relative Strength Index (RSI) is at 37.90, nearing the oversold territory, hinting at a possible short-term bounce if buying enthusiasm returns. However, the Cumulative Volume Delta (CVD) remains negative at -641.25K, pointing to persistent selling activity.

Solana’s market capitalization has shrunk to $69.55 billion, reflecting a 13% decrease. Trading activity has likewise lessened, with daily trading volume dropping 33.02%. On-chain metrics illustrate that daily active addresses have plummeted from 5 million to about 2.7 million, signifying reduced user engagement and potential adoption slowdowns.

  • Is Giving Birth in the U.S Still Possible for Nigerians
    The U.S Diplomatic Mission in Nigeria has released a significant alert for Nigerians. The US cautioned that any Nigerian intending to journey to the US mainly to give birth and obtain American citizenship for their offspring will face rejection.
  • David Umahi Celebrates As Daughter Bags First-class in Robotics Engineering
    Kimberly Olanma Nweze, daughter of Senator David Umahi, has successfully completed her studies at a university in the UK. The Minister of Works’ daughter has achieved First Class Honours in Robotics Engineering from Queen Mary University of London.
  • Most People Will Suffer Before and After Death – Naira Marley
    Musician Naira Marley has fired back at his critics. In a post on X, he expressed a wish that they may endure misery even in their demise.
  • Bbnaija 10 : Jason Jae Emerge First HoH.
    The inaugural Head of House, HOH, for Big Brother Naija season 10 has been announced. Jason Jae claimed victory following an exhilarating three-part challenge known as the ‘Sense of Peace’ competition that unfolded after the second segment of the launch show on July 27, 2025.
  • BBNaija S10 : 15 Female Housemates Unveiled.
    The highly-awaited BBNaija S10, also named “10/10,” kicked off on Saturday, July 26, 2025, promising exhilarating drama and entertainment.

Complicating these obstacles, FTX and Alameda have unstaked 3.03 million SOL, valued at $431.3 million, with part of the assets already moved to Binance. This action hints at the possibility of heightened selling pressure if more tokens are liquidated.

While the recent drops have been considerable, analysts foresee a possible recovery in March, predicting a 6.28% rise to as high as $154.31, with an average anticipated price of $146.83. This follows a significant 35.23% drop in the previous month, suggesting a potential trend reversal if bullish momentum resurfaces.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.