Solana’s Price Decline Amidst Volume Surge Sparks Speculation on Future Moves

Cryptocurrency market movements often leave investors scrambling to decipher the signs. In the case of Solana (SOL), a recent price decline coupled with a significant increase in trading volume has sparked curiosity among market participants.

Solana Price Declines, Volume Increases

Solana (SOL) price drops to $119.16, marking a 4.00% decline in the last 24 hours. The daily trade volume climbed by 105.21% to $6,223,550,195. This volume increase amidst a price decline may suggest profit-taking or repositioning by crypto traders. Solana has declined 14.31% in the last 7 days, with a total market capitalization of $61,083,820,704. In the last 24 hours, Story, Kaia, and Core emerged as top gainers, while Cronos, OFFICIAL TRUMP, and Bonk were top losers.

Solana Faces Sell Pressure and Resistance at Key Levels

Solana [SOL] is experiencing sell pressure as it approaches key resistance zones. According to Glassnode data, nearly 27 million SOL last moved between $144 and $156, marking it as a significant resistance area. Additionally, another 26.6 million SOL changed hands between $132 and $144, creating a dense supply cluster. This has led to increased selling pressure as the token revisits these levels. Solana’s daily active addresses have also declined by 46% since January.

Solana ($SOL) Continues Downward Spree on April 3, 2025

Solana ($SOL) is experiencing a continuous price downturn. Over the past 24 hours, $SOL’s price has dropped by 3.72%. This persistent downtrend suggests a pullback from investors, influenced by wider market uncertainty and macroeconomic shifts. However, the community still anticipates a rebound in the NEAR term. Currently, $SOL is trading at $119.75, marking a significant decline that affects its status in the crypto market. Despite this, the possibility of recovery remains, as the price performance indicates slight increases over time.

SOL Gains as Solana-Based Protocols Battle for Dominance

SOL is the winner as Solana chain turns into a battleground for meme coin launchpad and DEX. Pump.fun, a Solana-based meme coin launchpad, has severed its partnership with Raydium DEX and captured a significant portion of Solana-based trading volume. This competition has led to SOL gaining nearly 2% in value over the last 24 hours, trading at 118.28 at the time of writing. Both projects are built on the SOL chain, making Solana the ultimate beneficiary regardless of the outcome.