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SOL Discount – Short-term Adjustment or Signal of Ending Wave?
After a strong increase at the beginning of May, Solana (SOL) is currently adjusting around the $170 region, down about 10% from the recent peak. The main reason comes from profit-taking pressure when SOL hit the strong resistance area of $185, combined with the rapid increase before that led short-term investors to want to preserve profits.
In addition, the general market is temporarily stabilizing, causing funds to shift towards meme coins and small-cap altcoins, leaving SOL lacking momentum for further short-term increases. However, on-chain indicators remain positive: the number of active wallets is increasing, and the DeFi ecosystem on Solana maintains good liquidity.
If it holds the support level of $165–$170, SOL could bounce back when the market recovers or when funds return to strong Layer 1 projects.
#solana #solana #AltcoinDip #CryptoAnalysis📈📉🐋📅🚀 #Layer1Chain $SOL
After a strong increase at the beginning of May, Solana (SOL) is currently adjusting around the $170 region, down about 10% from the recent peak. The main reason comes from profit-taking pressure when SOL hit the strong resistance area of $185, combined with the rapid increase before that led short-term investors to want to preserve profits.
In addition, the general market is temporarily stabilizing, causing funds to shift towards meme coins and small-cap altcoins, leaving SOL lacking momentum for further short-term increases. However, on-chain indicators remain positive: the number of active wallets is increasing, and the DeFi ecosystem on Solana maintains good liquidity.
If it holds the support level of $165–$170, SOL could bounce back when the market recovers or when funds return to strong Layer 1 projects.
#solana #solana #AltcoinDip #CryptoAnalysis📈📉🐋📅🚀 #Layer1Chain $SOL
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