Solana's price has dropped 52% from its all-time high. Declines in TVL and market capitalization indicate a decrease in investor confidence.
Current Price Situation
Solana's price is currently trading 52% below its all-time high. Over the past month, the price has declined by 41%, and the total value locked has dropped by 40%. This suggests a significant decrease in investor confidence within the ecosystem.
TVL and Activity Data
The total value locked in the Solana network has decreased by 39.2% in the past month. From an all-time high of $12.1 billion in January, it has fallen to $7.4 billion. The market capitalization of Solana-based memecoins has decreased from $25 billion in December to $8.3 billion, indicating a loss of 80-90% of their value from the peak.
Technical Indicators and Expectations
Analyses of SOL's price charts show a double top formation. Immediate support levels are around $135. If this support level is lost, the price may drop to the $120-$110 range. The RSI indicator suggests oversold market conditions. Analyst Gum noted that within the current technical framework, 'a minimum support level of $110 could be expected before a rebound.'
These changes in market data may prompt investors to reassess their risk management strategies. Although the current downtrend occasionally shows signs of recovery, it is important to exercise caution and conduct thorough research.
