Why is Solana (SOL) Price Consistently Declining?
1.Technical Factors:
EMA Resistance: Repeated rejection at EMA(7) and EMA(25) highlights short-term bearish dominance.
MACD Bearishness: Persistent negative histogram signals weakening momentum.
RSI Neutrality:
Lack of strong buying pressure despite oversold Stochastic RSI.
2.Market Factors:
Broader Crypto Trends:Bitcoin/ETH consolidation or bearish sentiment often drags altcoins like SOL.
Network Congestion/Issues:Solana’s history of outages may erode investor confidence.
Competition: Rising activity on rival chains (e.g., Ethereum L2s, SEI, SUI) diverts attention.
Regulatory Risks:Uncertainty around crypto regulations impacts speculative assets like SOL.
3.On-Chain Metrics
- Declining TVL (Total Value Locked) or developer activity could signal reduced ecosystem growth.
