#BNBATH880 (TradingView).
The TVL (Total Value Locked) has declined from $12 billion to around $7 billion since January (Cointelegraph).
4. Geopolitical pressures and reduced risk appetite
Events such as the U.S. attacks on Iran triggered a sharp sell-off, with SOL recording a decline of over 8% in a single session, reflecting a general downturn in high-risk assets (CoinDesk).
5. Slowdown in institutional interest and adoption of alternative projects
Despite the launch of the ETF which temporarily boosted the price, the gains did not last, exposing a technical weakness such as failing to surpass the 50 and 200-day moving averages (InvestX). Investors have also started shifting towards projects like Unilabs Finance and AI-linked yields (CoinCentral).
Future outlook
Bearish scenario: If the price fails to break through the resistance of ~$200, it may target lower levels like ~$161 (according to the Double Top pattern) (BeInCrypto).
Bullish scenario: Some analyses suggest a continued upward trend towards $260 if momentum is regained above ~$180–$190 (TradingView).
Medium and long-term predictions:
Changelly predicts that the price will range between $187 and $195 in the coming months (changelly.com).