SOL Price Struggles Below $200 Amid Increased Scams on Solana
Solana ((sol) Prices have been struggling below $200 and are currently down nearly 13% over the past 30 days. Despite strong momentum in the previous months, recent indicators indicate trends, with bearish signals dominating the chart.
Ichimoku Cloud, ADX and price action all show the ongoing challenges as SOL fails to recover critical resistance levels. But if the purchase pressure gains and SOLs could be over $209, the road to $219, even $244 can be opened.
Users discuss Solana Meme coin scam and usage
Solana has been under scrutiny since Libra initiated Controversial meme coin promoted by Argentina President Javier Milei.
as a result of Potential pumps and slight rain Causes many users to question specific Solana Appsuch as Meteora and Pumpfun. The community is also concerned about whether blockchain itself peaks in adoption and price.
Some users, such as popular artist Gino Bori scam. This raises concerns about how projects work in ecosystems.
“The radio silence of Solana’s leaders as their community was scammers many times a day at the Volkswagen Extraction Olympics, sponsored by Jupiter, Etola and Pumpkin,” Gino Borri Posted On X (formerly Twitter).
Others, such as Defilama contributor 0xngmi, share data on the value obtained by on-chain meme coin exchanges.
“Calculate the total number of extracts from Solana memes. Trading robots and applications: $1.09 billion; Pumps: $492 million; MEV: $150-200 million; Trump insiders: $500-100 million; AMMS: $0-200 million; Total: $3.6 to $66 + $0 million” 0xngmi Write.
But, Mert, CEO of Helius, Solana Infrastructure providers, counter that a large number of scams are byproducts of Solana’s scale, rather than inherent flaws.
He believes that widespread usage naturally attracts bad actors, similar to what happens in other major blockchain ecosystems.
“Hopefully the last one I’m going to say at the end: cryptocurrency is full of guesses -> guesses lead to carpets -> solana scale encryption -> so there are more carpets on Solana. As cryptocurrencies get bigger and regulated mature , all chains with enough activity will have a large number of chains – and they have historically BTW (ICOS, NFT, etc.). This is a short period of time. The solution is a better start mechanism, better regulation and Better norms. When you do everything, it gets better, but as long as there is humans on the other side, it never disappears.” Write On X.
Solana The indicator is still bearish
Solana’s Ichimoku cloud map shows Bearish prospectsprice trading is lower than the cloud, and key indicators indicate weak momentum.
The conversion line (blue) is lower than the baseline (brown), indicating short-term weakness. Furthermore, the cloud ahead is still red, indicating a persistent bearish feeling.
for Sol Price To regain bullish momentum, it needs to exceed cloud resistance, around $198, and maintain a move above $200.
If the SOL fails to retrieve the key level, the downward pressure may persist.
A shift in trend will require SOL to push SOL higher than the conversion line and baseline line while increasing volumes to confirm bullish strength. Prior to this, the price action was still bearish.
Solana’s Average Direction Index (ADX) Currently it is 12.4, down from 22.3 three days ago. ADX measures trend strength, with a value above 25 indicating a strong trend, and a trend below 20 indicating a trend or no trend.
The decline in ADX indicates that Solana’s current downtrend is losing momentum, but has not reversed yet.
Lower ADX readings (e.g. 12.4) indicate that the ongoing downward trend lacks strong directional pressure. While this may mean that sales pressure is waning, it also shows Sol Price Lack of meaningful reversal power.
To be bullish, ADX needs to rise above 20, while price action shows signs of recovery, such as higher highs and higher lows. Until then, SOL was still susceptible to further declines or mergers.
SOL Price Forecast: Will SOL recover $209 soon?
Solana has been struggling To recoup the above $205 level, always fall below $200 when it fails to break this resistance.
If SOL tests the $187 support again and cannot hold it, the loss may be extended to $175, indicating further weakness.
On the other hand, if Sola Price Recovering the strong momentum seen in the previous months and entering a clear upward trend, it could push towards $209 resistance.
A breakthrough above that level will open the door to $219, and if bullish forces continue, Saul can even revisit $244.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
