Solana (SOL) has experienced a decline since reaching an all-time high in January due to decreased demand and selling pressure. The launch of the TRUMP meme coin on the Solana network initially drove up demand for SOL, but trading activity faded after Donald Trump's inauguration and the launch of the MELANIA meme coin. SOL is currently trading at $226, which is below the 20-day Exponential Moving Average (EMA), indicating weakening momentum. The Moving Average Convergence Divergence (MACD) indicator also supports a bearish outlook, suggesting a potential sustained price drop. However, if new demand for SOL increases, it could invalidate the bearish projection and allow for a potential reclaiming of the all-time high.



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