Solana (SOL) Price Prediction as Fees, Revenue, and Active Users Plunge
📉 Solana Faces Declining Metrics at $144
Solana (SOL) is currently trading at $144, significantly below its recent highs. The network is battling declining fees, revenue, and active users, raising concerns about its short-term price outlook.
🔍 Key On-Chain Metrics:
Fees and Revenue Decline: Solana’s network fees have dropped by 22%, indicating reduced transaction activity.
Active Users: The number of daily active users has fallen by 18%, reflecting lower dApp engagement.
TVL (Total Value Locked): A 15% decrease in TVL suggests declining DeFi participation on the network.
📊 Technical Analysis: Resistance and Support Levels
Resistance:
$150 – $155: Immediate resistance zone. A breakout above this range could trigger short-term bullish momentum.
$170: A key resistance level. Flipping this into support would confirm a stronger recovery.
Support:
$140: Current support level. A breach below this could lead to further downside.
$130: Major support. Losing this level may trigger heavier selling pressure.
RSI: The Relative Strength Index is around 49, indicating neutral momentum.
MACD: The MACD line is below the signal line, signaling mild bearish pressure.
🔥 Solana’s Price Outlook Amid Weak Metrics
With shrinking fees, revenue, and user activity, SOL may face further downside pressure. However, a market-wide recovery or renewed interest in Solana-based projects could drive a rebound.
📈 Price Prediction:
Bullish Scenario: If SOL breaks above $155, it could target $170 – $180 in the short term.
Bearish Scenario: A drop below $140 could lead to further downside, testing $130 – $120.
Consolidation: If SOL trades around $144, it may remain range-bound until a clear breakout or breakdown occurs.
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