Solana’s soil has entered the troubled waters while the wide drop in the Monday crypto market sent the blocchain diving token at high speed and low cost up to $ 8%.
It is less than the price made of $ 134 for the first time since May 2022, according to Glassnode Data. The price achieved is that the basis of the average cost of all the parts displaced for the last time and the current values mean that the average holder is underwater, a lower signal which can trigger the sale of panic or the capitulation.
The decline occurs while Solana validators debate a proposal known as SIMD-0228 which could reduce the annual inflation rate by 4.7% of the network by 80% to around 1.5% over time.
Unlike the market price, which fluctuates with exchange transactions, the price made is a basic cost anchor.
Price action constitutes a descending channel, with resistance between $ 134, formerly a level of support and $ 130, and the support at $ 120 and $ 115. The trend remains down, but if $ 120 is selected and $ 128 in break with volume, a rebound at $ 134 is possible, driven by lower buyers.
