📉 Market Alert: Solana ($SOL) Faces Downside Pressure
has seen a retreat from its recent highs, starting a downside correction. As the price dips, here are some key factors
contributing to the current pressure:
💡 Why is SOL's Price Decreasing?
1.Macro Market Sentiment: Broader risk aversion in the crypto
market, potentially influenced by external factors like weak US
job market data and soft consumer sentiment, has led investors
to pull back from altcoins.
2.Institutional Outflows: For the first time since launch, some U.S.
Solana Exchange-Traded Funds (ETFs) have recorded net
outflows. These institutional flows were previously a major pillar
of SOL's growth, and the reversal signals noticeable selling
pressure.
3.Network Activity Decline: On-chain metrics show a cooling-off period:
Total Value Locked (TVL) has decreased across major Solana
protocols.
a decline in Active Addresses and Network Fees suggests
softening fundamental demand for using the chain.
4.Technical Correction: After a strong run-up, a rejection at a key resistance level (e.g., around $148) often triggers a technical correction as traders take profits.#BinanceBlockchainWeek
