Solana has struggled to keep the bullish momentum in recent weeks. Although the cryptocurrency has shown signs of the upward trend, it is now facing challenges due to the low demand for Sol.
The market environment also deteriorates, which contributes to struggles. At $ 129, Solana stopped below the $ 135 barrier. There is no clear indication of the outbreak on the horizon.
Solana is struggling to find the request
Solana’s speed fell to the lowest level in 5 months, indicating weakening the demand. It measures the average speed in which the origin is generalized inside the market. The current blood circulation levels of Solana are equally with those seen in October 2024, a clear indication that the encrypted currency loses traction.
The speed decrease indicates that less investors are actively trading, adding more to the descending feelings surrounding the distinctive symbol. This lack of demand makes recovery difficultly difficult, because it means that merchants hesitate to enter the market.
Continuous low demand for Sol confirm the downward expectations. Many investors are likely to wait for a more convenient environment before adhering to new positions, which may delay any potential recovery as it fights the distinctive symbol to attract fresh capital.
Market value analysis for a period of two weeks to the percentage of the achieved value (MVRV), a main measure that tracks average profit or the loss of new buyers, reveals that the ratio is currently less than the zero line. This indicates that the investors who bought Sol in the past two weeks are now faced losses.
This position may lead to one of the scenario: either investors occupy their positions, hoping to recover prices, or sell to reduce their losses.
If the latter occurs, the increase in the sale pressure can push the price to a decrease and may slow any attempts to recover. In this scenario, the market is likely to remain down until feelings turn.
Sol price is struggling
Solana is currently trading $ 130, and is fighting to penetrate the $ 135 resistance. Although there is a short -term bullish trend, the probability of Sol violation this level seems low. This indicates that the price can remain linked to the near future.
The combination of low demand and morale in the market indicates a possible decrease. Solana may fall through the support line in the trend, with the next important support levels at $ 125 and possibly $ 118.
This scenario would delay any recovery, and push the distinctive symbol to a declining direction.
On the other hand, if Solana is able to penetrate the resistance of $ 135, the ALTCOIN price is about $ 148. The ongoing step above this Sol level can push 150 dollars, which nullifies the downward view.
Disintegration
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