The post Solana Fails $200 Breach, Triggers Sharp Breakdown in Price appeared on BitcoinEthereumNews.com.

Solana (SOL) has recently faced a challenging period, moving within a bearish pattern that hinted at a potential drawdown. The price has begun to reflect these concerns, with the broader market failing to provide enough support for a recovery.  As Solana struggles to maintain upward momentum, its price has experienced a significant decline, leading to further uncertainty in the market.   Solana Is Losing Investor Interest Solana’s network activity has slowed considerably, with active addresses falling to a five-month low. This decline in transaction activity reflects waning investor confidence, as holders seem to pull back from engaging with the network. The lack of significant growth or recovery in price action over the past two weeks has likely caused many investors to adopt a more cautious stance.   As the active addresses continue to drop, Solana holders are becoming increasingly skeptical about the token’s near-term prospects. Without meaningful growth or a clear bullish signal, these investors may continue to hold back, potentially exacerbating the downward pressure on SOL’s price and making a recovery more difficult.   Solana Active Addresses. Source: Glassnode Key technical indicators, such as the Relative Strength Index (RSI), indicate that Solana’s broader macro momentum also remains under pressure. Currently, at a monthly low of 40.66, the RSI suggests that bearish momentum is dominating Solana’s price action. When the RSI is below 50, it typically indicates that sellers are in control, which could prolong the downward trend.   With the broader market cues remaining uncertain, the RSI points to continued weakness for Solana. Unless there is a significant shift in sentiment or a favorable market catalyst, it seems that SOL may continue to face downward pressure in the near term, potentially pushing the price lower.   Solana RSI. Source: TradingView SOL Price Prediction: Recovering Losses Solana’s price has dropped by 7% over the last 24 hours,…

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Filed under: News - @ February 17, 2025 10:19 pm