Solana Shows Resilience Despite Price Dip
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Solana (SOL) experienced a notable decline, breaching the $130 support level as selling pressure intensified in recent trading sessions. This price action reflects broader market volatility and profit-taking behavior among short-term holders, contributing to the downward momentum.
Despite the price weakness, on-chain data reveals underlying strength: whale accumulation has increased while exchange supply continues to decline, indicating reduced selling pressure and accumulation by large holders. Key metrics such as network activity and staking participation remain robust, suggesting fundamental health persists beneath surface-level price movements. These factors collectively point toward potential stabilization and recovery as market conditions evolve.
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