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Solana’s price has registered sideways movements in recent sessions, reflecting a consolidation phase rather than a decisive recovery. Despite this rebound, investor behavior indicates that confidence remains limited in the digital currency market in general.
The last ten days have seen relative stability in a specific trading range. However, the stabilization did not lead to renewed collections.
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Solana loses the trust of the new owners
Solana’s new investors started cutting early. Addresses that make their first transaction in the network are classified as new addresses. Earlier this year, Solana registered nearly ten million new addresses at peak engagement ,
In the last four days, this number has fallen by 23% to 7.62 million. This contraction indicates a slowdown in the moment of accession. The low rate of network expansion often reflects the hesitancy of potential buyers waiting for clearer signs of recovery.
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This corrective move indicates that holders are waiting for a stronger confirmation of the uptrend before turning strong. Many seem unwilling to pursue short-term highs. Until sustained price increases appear, the growth of new entrants may be weak.
Solana’s holders are also retiring
Data on the net change in stock market positions highlights a shift from buying pressure to selling pressure. The green bars represent inflows in the exchanges, which usually indicate the intention to sell during bearish periods. Recent readings show an increase in conversion of Sol to trading platforms.
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Income of about 1.4 million Sol to the bags During the last 48 hours, with a value of about $ 117 million. Such flows increase the supply available on the exchanges. High balances can limit upside momentum if buyers fail to absorb distributions.
As the price of the SOL continues to rise, profit taking by coin holders may intensify in the short term. This behavior often limits rallies in volatile markets. Sustained flows promote consolidation rather than supporting a sustained breakout.
A SOL price cliff is unlikely
Solana’s price remained Oscillating between $89 resistance and $78 support. The current level of $86 puts SOL near the middle of this range. While the 10% daily increase boosts sentiment, the broader recovery remains uncertain.
As new address growth slows and inflows to exchanges increase, downside risks persist. Failure to hold $78 will send SOL towards $67. Such a move confirms the continuation of the prevailing bearish structure.
Investors stopped selling and flows slowed. Can challenge SOL Resistance $ 89. A break above this level could push the price towards $ 97. Holding above $ 97 could aim to reach $ 105. This scenario eliminates the bearish proposition and indicates a structural recovery.
