From March 03, 2025, till writing, Solana prices had continued to fall; at the time of writing, it was trading at $137.13 with an intraday decline of 15.21%; similarly below 20, 50, 100, and 200 days exponential moving average.
On February 02, SOL prices enjoyed an appreciable spike and were seen trading around $180, yet the gain in prices began fading from the beginning of the March 03 session, dragging it below the initial support levels.
The initial spike in SOL price was fueled by the announcement of Donald Trump that Solana might be included in the crypto reserve of the United States.
Will Solana continue to fall in the upcoming sessions?
According to data from TradingView, the SOL price lost more than 3.35% in the past 7 days, and in the past 30 days, the prices are down by 35.66%, and in the quarterly frame, it is down 41.41%.
In case of continued bearish momentum, the nearest support of SOL is $127.70, followed by $101.52 and $59.15 at the same time, its resistance is $212.43, and the next resistance of $238.61.
Experts claim that FTX’s recent transfer of millions of Solana tokens to different wallets has also sparked a declining momentum in its trading prices.
It is worth noting that the memecoin hype over Solana has been cooling down as several coins from the network vanished, resulting in severe losses.
Solana’s image is fading constantly with the allegations of offering a platform or an ecosystem for memecoin projects that primarily intend to loot the investors and the holders.
It has been reported at the time of the launch of Official Trump that more than 1 hundred memecoin projects debuted on the Solana chain in the same name to mislead the ones seeking to invest in the legitimate coin of the president of the United States.
The majority of the indicators of Solana have been favoring a bear sentiment, yet there are also speculations that it might see growth by the beginning the mid of March 2025.
A good time to stake Solana?
The ongoing turbulence in Solana’s price has opened opportunities for investors, as its current price is quite similar to the prices recorded in the last quarter of 2024.
As per investing experts this bear trend seems to be an opportunity for the ones who still want to invest in Solana rather than investing in the newly launched coins and tokens.
Over the weeks, dozens of whale wallets have boosted their investment in Solana, aiming to book more and more profits in the coming sessions.
Solana has reached its highest at $220 in the monthly frame and its lowest at $125.74; however, in 52 weeks, the highest traded price of SOL was $294.33, and the lowest was $109.54.
