The Solana Price is a death cross pattern making, indicating its decentralized exchange volume, active users and more negative side as revenue accidents.
Solana (Sol) token has dives $ 159, lowest level since November 6 and 46% from its highest level in February.
The accident occurred when the ecosystem faces major challenges amid the weakness of the price of the meme coin. The total market cap of coins coins has increased from $ 25 billion to $ 9.8 billion in January. The most popular tokens such as Dogwifat, official Trump and Pudi Penguin have shed billions in value.
This trend has affected its internal matrix. Toolminal Data suggests that the number of active users has fallen to 87.3 million, its lowest level since Octovar 7. It has fallen by high 137 million of November. It is a sign that some solana users have sold their tokens.
Solana’s revenue also fell below $ 1 million a day. It earned $ 978,000 on 14 February, below this year’s peak of $ 44 million.
The decentralized exchange industry is also not doing good because Solana Mem coins dipped. Its Dex quantity The last seven days have fallen by 36%, which has increased to $ 18.3 billion in the atherium and less than $ 16.9 billion of BSc, $ 16.7 billion.
Solana value forecast
The daily chart suggests that Ben has a strong recession tendency after reaching $ 295.28 on January 19 at the Soul Price. It formed a double-top-top-like chart pattern at $ 263, and whose neckline was at $ 169, its lowest swing on 13 January. It has already fallen under the neckline, a sign that has become strong.
Solana has also created a death cross pattern, which occurs when 200-day and 50-day weighted moving averages cross each other. The percentage value has increased downwards.
Therefore, the approach to Sol Price is slow, $ 110 with the next point, the lowest swing in August last year. This target is about 30% below the current level. A brake above the level of $ 200 will invite the approach to recession.
