Solana-News: Sol course falls under $ 100 in the middle of the market sales
- Solana falls below $ 100 and thus signals a persistent downward dynamics and increasing market uncertainty.
- The Dex trade volume on Solana reaches an annual low, which indicates a falling participation of the users.
As CNF reported, the downward trend of Solana increased on Monday, when the cryptocurrency slipped under the critical $ 100 mark, which indicates a continued downward dynamics. The decline followed the loss of 15.15 % last week and reflects the general market weakness in view of the macroeconomic tensions.
Leveraged Traders in Sol recorded liquidations worth almost $ 70 million in the last 24 hours alone, what the extent of the commitment of investors underlines. In view of important technical indicators that emit warning signs, analysts suspect that Solana could head to his February low of $ 92.88.
At the time of the creation of this article, Solana is currently traded at $ 105.26, which corresponds to a decline of 8.10 % in the last 24 hours.
Solana dealers are faced with a strong liquidation in market sales
On Monday in the early Asian session, the wider cryptocurrency market crashed and triggered what many traders now call “black Monday”. Bitcoin led the decline, broke under $ 75,000 and reached a new annual low of $ 74,701. The movement led to crypto liquidations of over $ 1 billion within 24 hours, as can be seen from market-wide data.
Data from Coinglass showed that Sol positions with leverage worth almost $ 70 million were liquidated within one day. Analysts noted that this extent of liquidations could intensify the fear, uncertainty and doubt (fud) among investors and increase sales pressure. An important geopolitical development in the past week contributed to the Bear Climate.
US President Donald Trump quit A new round of tariffs on Wednesday anwhich led to fast retaliation measures on the part of China. Beijing reacted with a 34%levy to US goods. This escalation of the trade voltages is strongly stressed by global markets, including cryptocurrencies. The Japanese stock market also suffered and fell to the lowest level since October 2023 on Monday.
Liquidity on the Solana-Chain shrinks-Dex turnover falls at the low of the year
Market analysts also pointed out the decentralized interest in the decentralized ecosystem of Solana as a growing concern. According to Artemis data, the Dex trade volume on the Solana blockchain has recorded a steady downward trend since mid-January. From a maximum of $ 35.60 billion, the volume has now fallen to an annual low of $ 713.6 million.
The decline in commercial activity indicates less engagement by investors and shrinking liquidity in the Solana network. With fewer users and less capital that flows through the system, it is becoming increasingly difficult to maintain price stability.
The technical charts draw a dark picture for Solana in the near future. The price on Sunday was $ 118.10 under a critical level of support and fell by almost 12 %that day alone. On Monday the decline expanded to over 7 %, whereby the value under the psychological threshold of $ 100 is traded.
Should the downward moment stop, Solana could reach its lowest February 6th at $ 92.88. Conversely, a recovery via the $ 100 brand could signal the beginning of a short-term upswing-for the time being, the bears remain firmly in hand.
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