Solana – Assessing if a fall to $49 is actually possible for SOL’s price
Amidst a broader crypto market downturn, Solana (SOL) has faced significant selling pressure, declining over 20% since the start of February. Its price broke key support levels, falling below $70 and threatening a further drop toward the $49–$53 demand zone if the current level fails to hold. The bearish sentiment is reinforced by substantial ETF outflows, totaling -67,632 SOL ($5.68M) in the past week, indicating a loss of investor confidence. Despite these challenges, Solana reached a milestone with its Real-World Asset (RWA) market cap surpassing $1 billion, signaling underlying fundamental strength. However, recovery remains uncertain unless SOL can reclaim the $118–$145 range. Without increased institutional support, the risk of further decline persists.
ambcrypto02/07 15:02