Why is the Solana price decreased today?

Solana has decreased by 6.5 % in the past 24 hours to reach about $ 127 on March 17, reflecting losses through the cryptocurrency market.

The most important reasons that prompted Sol prices to decrease today:

• Reducing the investor’s interest in the ecological system of decentralized financing (Defi).

• Reducing open interest and negative financing rates.

• Technicians suggest a possible decrease in the Sol price.

Solana TVL strikes its lowest level for four months

The low price of the Sol today is a decrease in the total closed value (TVL) in Defi applications, according to the data from Deflalama.

Main points:

• Solana’s TVL has been in a declining direction since mid -January.

• This scale fell 45.5 % from $ 12.1 billion on January 19 to $ 6.63 billion on March 11.

• TVL is now 7 billion dollars on March 17, by 41 % less than the peak of January 19.

• This decrease in TVL occurred along with a decrease in the Sol price, which decreased by 56 % during the same period.

• Several layer -2 protocols, such as Geto and Redium, have been recorded by 30 % and 32 % in TVL over the past thirty days.

• TVL decline reflects the interest of merchants that could be a sign that Solana is struggling to attract new users despite the low traction costs.

Solana prices are also supported by a decrease in ONSAIN activity within the Solaman pump.fun.

What do you know:

• A sharp decrease in the number of network transactions that preceded the decrease in Sol prices on March 17.

• The amount of daily transactions on Solana Bluchin fell from the highest level ever at 71738 on January 23 to 24.505 on March 17, as shown in the graph below.

• This indicates a decrease in network activity, which leads to a decrease in revenues from the fees.

• This negatively affects the price of the Seoul, and partially explained the constant correction.

Solana financing rates remain negative

The open interest of Solana (OI), and its funding rates is negative, provides an insightful look at the reason for the struggle of Sol.

Main points:

• Solana’s OI prostrated in the futures market from its local peak of $ 8.57 billion on January 17 to $ 4.03 billion as of March 17.

• OI measures the total number of suspended future contracts, and the decrease indicates that more traders come out of positions.

• OI usually decrease in a reduction in speculative demand, which slows down the upward price momentum.

• Sol weekly financing rates are still negative by -0.10 % on March 17, four months after peak by 1.37 %.

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The Sol price can decrease 35 %

Sol is trading 56 % less than its highest level ever at about $ 294, which was created on January 19, and the technicians indicate that there is a greater room for the negative aspect during the next few weeks.

The main levels of watching:

• Altcoin was traded above $ 120, but the bulls failed to pay the price above $ 135.

• If the price is less than $ 120, the Sol/USDT pair may decrease to the level of $ 110 (established on August 5, 2025).

• This is an important support to keep it because the break and closure below may start a declining step to $ 100 and then to 80 dollars.

• Such a step represents a 35 % decrease in the current price.

• However, the positive difference from RSI shows that the bulls accumulate Sol at lower levels.

• The break and closing of the highest psychological level of $ 140 will lead to a decrease in the pressure pressure.

• The husband can gather to a simple moving average for 50 days at $ 171, as the bears are expected to prove a strong defense.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.