Solana is currently experiencing significant selling pressure and is trading at its lowest level since September 2024. The cryptocurrency has retraced over 55% since its all-time high in January, leaving investors uncertain about its short-term prospects. On-chain metrics show that Solana's transfer volume has dramatically dropped, indicating a decrease in network activity and interest. The broader crypto market is also under pressure, with altcoins struggling to regain bullish momentum. If Solana fails to hold key support levels, further declines could be on the horizon. However, a strong recovery in volume and price action could indicate renewed interest and potential for a reversal. It is crucial for Solana to hold above key demand levels for a potential rebound, but continued weakness in volume and price action could lead to further declines.



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