Solana's Total Value Locked (TVL) has recently reached $10.3 billion, recovering from a low of $9.90 billion. However, it is still down almost 30% from its January 18 level, indicating decreased investor confidence. The decline in TVL is attributed to controversies surrounding the Solana ecosystem, such as accusations of being extractive and criticism over the launch of the meme coin LIBRA. Solana's price has also been under pressure, with a decrease of over 8% in the last seven days and more than 31% in the past 30 days. Technical indicators suggest a potential short-term recovery, but the bearish trend is still dominant, with SOL trading below key resistance levels. If the issues surrounding Solana are not addressed, it could lead to continued capital outflows and further slow the recovery. However, renewed investor confidence and an increase in TVL could support SOL in the future. The bearish trend is still intact, but there are signs of weakening bearish momentum. Solana's price could potentially reverse the downtrend if it breaks above the resistance levels. On the other hand, if the downtrend persists, SOL could retest support levels.



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