Solana (SOL) is facing pressure after failing to hold its $125 support. Major token sales and reduced network activity have added to this scenario.
$125 as the Key Level for Solana Price
Analyst Ali Martinez called $125 the 'most important support level' for Solana. Failure to reclaim this zone could lead to a deeper correction towards $105, as he warned in a March 28 post. Martinez also highlighted a bearish wedge pattern, noting that SOL had already breached the lower trendline. Retesting this breakdown area could confirm further losses.
Whale Exits Add Pressure
Lookonchain reported that a whale unstaked 60,289 SOL and sold the entire amount for $7.67 million in USD Coin (USDC). This transaction occurred at $127 per token. The large sell-off was concurrent with a sharp retracement in SOL price, leading analyst Crypto Patel to advise booking partial profits and adjusting stop-losses to breakeven.
Active Addresses Hit High But With Caveats
Despite the price pressure, Solana's total address count continues to climb. On-chain analyst Ali Martinez noted that the network had reached an all-time high of 11.12 million addresses. However, recent data from Artemis paints a less optimistic picture, showing declines in daily active addresses and transactions since early 2025.
Solana's price faces significant challenges after failing to maintain the $125 level. External factors, including macroeconomic risks, further add to market uncertainty.
