Solana has been subjected to intense sale of sale since late January, after reaching his highest level ever. The price fell more than 40 %, which left investors concern about the sustainability of its upper momentum. The price procedure is currently down, as the main support levels are tested as the market faces uncertainty and wider volatility. Solana’s performance reflected the total decrease in the cryptocurrency market, which raised concerns about more short -term corrections.
Despite the declining feeling, analysts are still optimistic about Solana’s capabilities of rapid recovery. Supreme analyst Ali Martinez shared insightful data, and revealed that the Solana Network continues to expand at an impressive rate, even with the price struggle.
Growth in new headlines and daily activity shows the strength of the basic network and attractive for developers and users alike. This constant continuous expansion can provide strong apostasy, as the basics remain strong despite the recent price procedures.
While Solana will move in this difficult period, the next few weeks will be it is very important in determining whether she can restore her upscale momentum. If the network continues to grow in market expectations, Solana may surprise investors with rapid recovery, which enhances its position as a pioneering Blockchain platform.
Solana network growth indicates a potential price estimation
Solana is currently trading in a critical support area, where more than 14 % have decreased since Tuesday. The price tested the last support level in its long -term bullish structure, making investors concern about the continuous sale pressure. Since the broader encrypted currency market faces increasing fluctuations and a declining feeling, Solana’s ability to keep this support is the key to avoid deeper correction. Loss of this level may lead to more negative aspect, which may threaten its upward path.
Despite the current landmarks, there are promising signals for the growth of Solana in the future. The main standards of Glassnode reveal that the Sol network is expanding at a rapid pace, with the creation of more than 5 million new addresses per day.
Martinez Share this data on xShedding light on the strong growth of the base of Solana users and network activity, even during difficult market conditions. These fast expansion signals indicate an increase in adoption and attention in Solana as a leading ecosystem in Blockchain, which can translate into constant growth in prices in the coming months.
Martinez believes that this network expansion puts Solana to increase potential prices as the basics are still strong despite making short -term prices. If the price is able to obtain its decisive support and maintain its growth path, the coming months can bring renewed optimism and recovery that may surprise the market.
Price procedure details: main levels
Solana is currently trading at $ 200 after the pressure of pressure and volatile price procedures. The level of 200 dollars has become a decisive battle yard for bulls, as the restoration of this sign as a necessary support to reflect the declining direction that has attracted Seoul since late January. The price is a key level test, and the failure to keep this support can indicate a negative side in the short term.
If Sol loses its current level, it is possible that the decrease in the low demand areas is about $ 190, with the possibility of further decreases if the pressure pressure continues. This may lead to a deeper correction, threatening the long -term bullish temple that Seoul has maintained during the past year.
However, the successful recovery of the $ 200 brand as support can provide the basis for recovery. The bulls should intervene to defend this level and build momentum towards higher levels, and possibly pushed the price back above the sign of $ 220 to the signal strength.
Currently, all eyes are located on the $ 200 region, where it will determine whether Sol can settle and start recovery or whether he will face more declines amid a wider direction in the cryptocurrency market.
Distinctive image from Dall-E, the tradingView graph