Solana’s Precarious Position: Can SOL Defend the $100 Support Amid Market Turmoil?
Solana (SOL) faces a critical test as its price struggles to hold above the $100 support zone following a sharp 15% decline. With bearish technical indicators and broken key levels, traders are watching closely to see if SOL can avoid further downside.
Solana (SOL) Freefall—Can It Hold Above The $100 Danger Zone?
Solana (SOL) price has started a fresh decline below the $112 support zone and is now consolidating. There was a break below a key contracting triangle with support at $118 on the hourly chart. SOL is trading below $105 and the 100-hourly simple moving average. The price could accelerate lower if there is a break below the $100 support zone. SOL price dipped over 15% as it declined below $122, $115, and $112 levels.
Solana Price Declines, Volume Increases
Solana (SOL) price drops to $97.75, marking an 18.03% decline in the last 24 hours. The daily trade volume climbed by 255.07% to hit $5,703,751,556. Volume increase amidst a price decline suggests profit-taking or repositioning by crypto traders. Solana declined 22.55% in the last 7 days, with a total market capitalization of $50,388,795,247. In the last 24 hours, Dai emerged as a top gainer, while KuCoin Token and Aave declined, ranking as top losers in the market.
Pump.fun Relaunches Livestreams with New Moderation Rules
Solana-based meme coin platform Pump.fun has reintroduced its live-streaming feature to a limited group of users, five months after suspending it due to harmful and controversial content. The feature is now available to 5% of users and includes industry standard moderation systems and clearly defined content guidelines. The updated policy aims to promote creative and engaging content while protecting users from illegal or harmful behavior.
Trader stakes $0.05 of SOL for 3,000 years
A crypto user has staked a very small portion of Solana (SOL) for the next 3,000 years, according to blockchain analytics firm Arkham Intelligence. The unknown user staked $0.05 SOL in 2023, and it will unlock in the year 5138. Vincent Liu, chief investment officer at Kronos Research, believes this move is a symbolic act reflecting a strong belief and conviction in Solana’s long-term ecosystem. Liu added that legacy staking is more than just locking assets; it’s a mindset. The real edge in crypto isn’t in chasing short-term hype, but in holding long-term conviction assets through cycles.
