President Donald Trump’s recent decision to impose a 25 % tariff on imports from Canada and Mexico, as well as increased customs tariffs in China to 20 %, has led to revenge threats. These commercial wars have liquidated billions of dollars in the encryption market, as the leading altcoins, like Solana, sent the lowest annual prices. As a result, important scales on the chain decreased sharply, which increased the possibility that the Solana price remained stuck less than the $ 100 sign.
Decreased the number of active addresses of Solana
Solana’s price faces a critical moment after the important level of support is 100 dollars, which represents its lowest level since February 2024.
According to data from Coinglass, there have been a major qualifying for Solana sites during the past 24 hours, with a total of about 86.3 million dollars. From this, buyers have settled $ 67.2 million in long positions, while sellers closed $ 19.1 million in short positions.
In addition to this sale pressure, it is scheduled to launch more than $ 50 million in the distinctive Sol codes this week. Meanwhile, Altcoin’s total market has high levels of fear, with a Crypto Fear and Greed index on 22 now.
The activity also decreased on the series recently. The number of active headlines on Solana fell from a peak of 3.52 million to 2.99 million last week. In addition, new addresses on the network fell from 3.51 million to 2.78 million. This decrease in the activity indicates poor demand and benefits, indicating that sellers have a feature currently.
Also read: Solana again over $ 100 with bulls – will you get $ 110?
Aside from the last sharp decrease in the Solana price, the protocol also lost its position as the highest decentralized stock exchange (DeX), and has left ethereum. This can negatively affect the feeling. However, there are positive notes, which may meet the expectations of Sol buyers.
One of the important factors is to pay the investment funds circulating in the United States in the United States. Although approval chances are not strong like Litecoin or Dogecoin ETFS, if approved, ETF Solana will attract long -term support for the ecosystem.
What is the following for the Sol price?
Solana (SOL) is currently strong, strong, as its price has decreased sharply after failing to keep it at $ 118. The price initially decreased to less than a decisive $ 100 level of low formation near 95 dollars. However, it later sparked a recovery and rose above $ 100. From writing this way, Sol PRICE is trading at $ 106, as more than 1.53 % has decreased in the past 24 hours.
Interestingly, buyers showed interest in collecting more Sol about the decline to less than $ 100, which led to the latter’s recovery.
The RSI is 39, indicating that the declining momentum is strong. If buyers can gather and pay the price to decisive resistance of $ 110, Sol is likely to reach a resistance area from $ 135 to $ 160. Hacking this point can restore market confidence and may lead to an increase of $ 180.
On the contrary, if Sol fails to stay higher than $ 110, it may face a stronger decrease, and may decrease to an important support level at about $ 100. The decrease below may lead to more losses, which sends Solana to less than $ 80.
