The price of Solana (SOL) has experienced an 8.03% decline and fallen below $200 for the first time since early November. This aligns with the broader market slump and triggered widespread liquidations. Despite the decline, Solana traders remain confident in a quick rebound, as seen by the rising Long/Short ratio. Additionally, the Market Value to Realized Value (MVRV) ratio suggests that SOL may be approaching an undervalued zone, potentially signaling an accumulation phase. However, the potential recovery depends on the condition of the broader market. If the downward trend continues, Solana's price could drop further, but if bulls prevent it from falling below $170.75, a rebound is possible.



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