SOLANA ($SOL ): Bearish Price Action Despite Strong Network Growth
Solana is trading around $89.85, down 6.19% over 7 days and 20.44% over 30 days.
Key bearish factors include $71.47M in weekly Solana ETF outflows and large SOL deposits to exchanges, increasing potential selling pressure.
Key Levels:
Support: $88.42
Resistance: $98–$100
Major resistance: $103–$104
Daily RSI at 28.89 signals oversold conditions, but a reversal is not confirmed.
Despite price weakness, Solana's ecosystem remains strong:
Q3 app revenue: $299.1M (+48% QoQ)
Spot DEX volume: $197.2B
RWA value: $5.12B
Market Outlook: Near-term sentiment remains bearish. A recovery above $98–$100 could improve momentum, while a break below $88.42 may trigger further downside.
Strong network growth, but SOL still needs stronger buying pressure!
#Solana #SOL #CryptoMarket #Altcoins #BinanceSquare
Solana is trading around $89.85, down 6.19% over 7 days and 20.44% over 30 days.
Key bearish factors include $71.47M in weekly Solana ETF outflows and large SOL deposits to exchanges, increasing potential selling pressure.
Key Levels:
Support: $88.42
Resistance: $98–$100
Major resistance: $103–$104
Daily RSI at 28.89 signals oversold conditions, but a reversal is not confirmed.
Despite price weakness, Solana's ecosystem remains strong:
Q3 app revenue: $299.1M (+48% QoQ)
Spot DEX volume: $197.2B
RWA value: $5.12B
Market Outlook: Near-term sentiment remains bearish. A recovery above $98–$100 could improve momentum, while a break below $88.42 may trigger further downside.
Strong network growth, but SOL still needs stronger buying pressure!
#Solana #SOL #CryptoMarket #Altcoins #BinanceSquare
