Solana Price Shows Recovery Signs as Bearish Pressure Eases
Solana ((sol) Total Value Lock (TVL) recently hit $99 billion, its lowest level since November 2024, before recovering slightly to $10.3 billion. Despite the rebound, SOL’s TVL is still down nearly 30% from January 18, reflecting ongoing concerns about its ecosystem.
SOL’s prices are also under pressure, down more than 8% in the past 7 days and more than 31% in the past 30 days. Technical indicators show signs of recovery, but bearish trends remain dominant with SOL trading below key resistance levels.
Solana TVL has reached its lowest level since November 2024
Solana’s total value lockdown (TVL) is currently at $10.3 billion, recovering from its low of $99 billion on February 17, the lowest since November 14, 2024. Despite the rebound, TVL still fell 30% from $14.2 billion on January 18, reflecting a decline in investor confidence.
This decline coincides with Controversy over Solana ecosystemincluding allegations of over-extraction and criticism Meme Coin Librawhich helps capital outflow.
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Tracking TVL is important because it shows the total capital locked in the blockchain defi Ecosystem, indicating liquidity and investor confidence. Although Solana’s TVL has recovered slightly, the sharp decline in the past month highlights ongoing concerns.
If these issues are not addressed, the ongoing capital outflow may put pressure on the SOL’s price and slow its recovery. On the contrary, if confidence is restored, the rising TVL may indicate interest and support for SOL.
Solana indicator remains bearish, but is recovering
Solana’s Ichimoku cloud map Indicates that the price is currently below the red cloud, indicating that the bearish trend is still dominant. However, the price is now trading above the blue Tenkan-Sen (conversion line) and Orange Kijun-Sen (baseline), which indicates that bearish momentum is weakening.
This may indicate potential short-term recovery Buyers start to gain some control. However, thick red clouds acted as a strong resistance and Solana needed to break to confirm the bullish reversal.
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In this case, the fact that Solana remains under the red cloud suggests that the overall downward trend has not reversed.
But if the price can surpass the cloud, it would be a strong bullish signal. On the contrary, failure to break the resistance may lead to new sales pressures, Continue bearish trend.
Solana’s Directional Motion Index (DMI) chart shows that its average directional index (ADX) is currently 25.4, down from 43 of the SOL’s price dropping to around $165 two days ago.
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This decline in ADX suggests that although the trend itself remains, the intensity of the downward trend is weakening. ADX above 25 usually marks a strong trend, but the falling value indicates that bearish momentum is losing strength. This may lead to a merge phase.
Meanwhile, +di is 18.4, up from 5.4 three days ago, while -DI is 14.8, down from 39.2 in the same period. This shift shows As sales pressure drops, purchasing pressure gradually increases. If +di continues to rise above -DI, it may indicate a potential trend reversal.
However, as SOL is still on a downward trend, a sustained buying momentum is needed to break the bearish pattern. If +di cannot keep it moving upward, the downward trend can be restored.
Solana can recover $200 if the downtrend recovers
Solana’s exponential moving average (EMA) line still indicates a bearish trend as short-term EMA is lower than long-term EMA. However, the direction of these lines has changed slightly since yesterday, Solana Price Up 4%.
This indicates that sales pressure is declining and purchase interest is gradually returning. If this momentum continues, it may lead to a reversal of the trend. However, this will require short-term EMA to exceed long-term EMA.
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If SOL can completely reverse the current downtrend, you can first test the resistance to $183. A successful breakthrough above this level will indicate a stronger bullish momentum and potentially push the price to the next resistance at $197.
If the buying pressure continues to increase, Sol Price It can even target $220, representing a major recovery.
Conversely, if the downward trend continues and sales pressures intensify, Sol may retest support for $159.
A breakout below this level will indicate a continuation of the bearish trend. This could result in a drop to $147, the lowest level since October 2024.
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.