Solana’s fall to $97; Can Bulls Get $100 Psychological Support Back?
Despite this sales pressure, activity in the Solana network remains strong. Solana’s 24-hour spot trading volume increased by 32% and reached 6.55 billion dollars. The volume of derivatives transactions has also grown by 40%, and institutions’ ierest in buying remains strong in this reform; So that in January, Spot Solana ETFs in the United States attracted $104 million.
Technically, Solana’s price structure remains bearish and recording lower highs and lows confirms sellers’ dominance. On the other hand, the price of SOL has fallen below the daily moving average at $121 and rece attempts to recover have been temporary.
Currely, psychological support of $100 is very importa; Definitive break of this range could take Solana to the range of $95-93 and even $85-90, while its short-term resistance is at $120-122.
