Regardless of the steep decline, buyers stay hopeful, albeit cautiously. Metrics present that lively addresses on the Solana network have fallen to 4.44 million, down from January’s peak of 9 million. The decline exhibits customers are ready for clearer indicators of restoration earlier than reengaging with the community.
Technical pointers additionally point out that the restoration is perhaps simply across the nook. Solana’s Relative Power Index (RSI) has dropped beneath 30, which means that the asset is oversold. Beforehand, ranges like these have typically led to cost reversals, and buyers are hoping historical past will repeat itself.
The $100 mark now stands as a key stage for SOL. A break above it may restore confidence and entice extra consumers. Then again, an extra slide beneath $90 would deepen the downtrend and problem bullish expectations.
Even with the present weak spot, Solana’s robust group of holders continues to help the venture. If market sentiment improves, SOL may see a fast restoration. However for now, all eyes are on international monetary cues and whether or not Solana can maintain above vital help ranges.