Solana News: SOL Experiences Significant Decline, Bearish Trend Continues

In the cryptocurrency market, Solana (SOL) has been experiencing a tumultuous period, with significant price movements and technical indicators pointing to a bearish trend. Here’s a summary of the latest developments surrounding SOL.

Solana (SOL) Price Prediction for March 18

Currently, Solana (SOL) is trading at $123.95, showing a significant 4.79% decline in the past 24 hours and a steep 34.17% drop over the last 30 days. Such declines indicate that SOL is in a period of significant correction, likely influenced by both internal technical factors and external market pressures. On shorter timeframes such as the 4-hour and daily charts, technical indicators reveal a bearish trend. The 50-day moving average is currently trending downward, and the 200-day moving average has not provided sufficient support. These declining averages suggest that the recent price drop is not just a temporary blip but part of a broader downtrend. Solana’s price is currently confined within a descending channel.

Solana Foundation Deletes Controversial Ad After Backlash

The Solana Foundation has removed an advertisement from its official account following criticism over its political messaging on gender identity. The ad, posted to promote the Solana Accelerate conference, attracted negative commentary for its references to gender and pronouns. The video depicted a man, referred to as ’America,’ speaking with a therapist who suggested he focus on coming up with a new gender and pronouns instead of innovating. Solana Co-founder disapproved of the campaign.

Solana Price May Dump to $30 in 2025 Amid Bearish Trends

The Solana (SOL) price is currently in a downtrend, last trading around $124. It has declined by approximately 57% from its January peaks NEAR $300. Recent rejections of the 21DMA and 200DMA suggest bearish control of the market. Weak interest in the new Solana futures product on CME could further push the price lower.

Solana (SOL) Remains Bearish As TVL and Whale Activity Shows Cautious Sentiment

The continued decline of Solana (SOL) is being driven by its Total Value Locked (TVL) and whale activity, showing mixed signals. SOL is trading within a tight range, with investors closely monitoring key support and resistance levels. Solana’s TVL is currently $8.57 billion, remaining below the $10 billion mark since February 23, highlighting constrained capital Flow into the ecosystem. Despite retaining a significant share of the decentralized finance (DeFi) market, the sub-$10 billion range reflects broader market sentiment and risk appetite.