Solana Price Struggles Below $130 as Recovery Momentum Remains Weak
Following the current price decline, Solana is struggling to recover. Therefore, SOL stays below the resistance level of $130. Although the altcoin is beginning to stabilize, its pace is still erratic. The upcoming move seems to rely more on current Solana holders than on new market entrants, in contrast to past rallies that were fueled by inflows.
SOL Shows Early Accumulation Signals Despite Weak Price Action
Early indications of stabilization can be seen in on-chain data. Over the previous three days, the Chaikin Money Flow (CMF) has seen a significant increase. The upward movement indicates that capital outflows are moderating, although the indicator remains below the zero line. The outlook for Solana’s recovery depends on this change. A shift toward inflows is frequently preceded by declining outflows. The price of SOL can react swiftly once buying pressure surpasses selling pressure. A sustained increase in CMF would indicate that current holders’ confidence has returned.
Solana Price Stability Now Depends on Existing Holders
A more cautious picture is painted by macro indicators. In recent sessions, the quantity of new addresses in Solana has drastically decreased. Over a ten-day period, the number of new addresses decreased by 11.3%, from 6.077 million to 5.390 million. Weaker speculative interest is indicated by declining network membership. Citing a lack of immediate incentives, new investors seem apprehensive. Due to the lack of new demand, it is more crucial for current holders to sustain price stability and any attempt at recovery.
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