Solana fell by 4% per day

The Solana cryptocurrency SOL $158.62 Binance-Peg SOL -3.26% Market capitalization $0.17 billion VOL. 24 hours $0.54 billion has recently pulled back after reaching a local high of $ 168, which has sparked a wave of discussion among traders and investors. Analysts attribute the current correction to profit-taking after the rapid price increase in recent weeks, as well as the overall market volatility.

According to market data, Solana’s previous growth was supported by high demand for network resources, the activation of decentralized applications, and an increase in trading volumes on major exchanges. However, after reaching $ 168, investors began to sell tokens en masse, which led to a short-term price drop.

Experts note that the key support for SOL is now in the region of $ 150-$ 155. If the price stays above this level, there is still the potential for renewed growth. At the same time, the further development of the situation largely depends on the dynamics of bitcoin and the general mood in the crypto market.

Analysts advise investors to closely monitor trading volumes and technical indicators, as sharp fluctuations in Solana may indicate growing volatility and the approach of a new price momentum.