Solana Price Shows Recovery Signs as Bearish Pressure Eases
Solana ((sol) is facing important volatilityIts Total Value Lock (TVL) has dropped $9 billion for the first time since November 2024. This decline has raised concerns about user confidence in the ecosystem.
Still, Solana remains one of the most important chains in terms of quantity, ranking second in the last seven days. If user confidence returns and shows an uptrend, SOL may recover over $200 in March, but continuing sales pressure may also push it below $100.
Sol TVL fell below $9 billion for the first time since November 2024
SOL’s total value lock-in (TVL) is currently $8.5 billion, Descent from the highest heights in history $14.2 billion on January 18. TVL measures the total amount of assets locked in the blockchain Decentralized Financing (DEFI) Agreementreflects the confidence and liquidity of users in the ecosystem.
This is a key indicator of network health, as the rise in TVL indicates an increase in adoption and capital inflows, while the decline in TVL indicates a decrease in user engagement or capital outflows.
This is the first time Sol’s TVL has fallen below $9 billion since November 9 Raise concerns about the future of the chain. This decline coincides with growing skepticism about the sustainability of major players such as Pumpfun and Metrora, who are considered highly extractive.
In addition, the controversy surrounding the launch Meme Coin Libra Contributes to uncertainty within the ecosystem. If the TVL continues to decrease, it may indicate a decrease in user confidence, which may lead to further corrections to the SOL.
Despite recent corrections, Solana remains a dominant network
Although very strong Price correction fluids are facing in recent weeksit remains one of the most important players in the cryptocurrency field.
Although it is not as high as a few months ago Solana continues to show important user activity and adoption.
Among the largest chains, Solana is currently ranked second in the last seven days, surpassing Ethereum only, but is followed by BNB, which has been in the momentum lately.
Solana has led the volume to $120 billion over the past 30 days, compared with $94 billion for BNB and $85 billion for Ethereum.
This shows Despite price correctionSolana is still one of the most commonly used blockchains, and is large in size.
Solana can recover $200 in March, but requires a strong uptrend
If the current correction continues Solana’s price can be tested Support is fast $120.
If this level is broken, the price may drop further to $110 since December 2023 and may drop $100 for the first time.
On-chain indicators indicate Solana remains one of the most used chains on the marketpresent strong potential demand. If there is an uptrend, SOL can test resistance at $152.
“For Solana, I’m watching a slightly increased level shorts Accumulated across exchanges. This combined with the fact that FUD discussion rates are rising, suggesting that turnover is actually for emotionally driven assets like SOL… Once the market can bounce a little bit, it won’t be surprised if Solana’s rebound is falling more than most retail,” Santiment Santiment Analyst said:
Breaking this level could lead to a $183 rally. If user confidence returns, SOL can even reach $205 and will recover over $200 in value in March.
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