Solan price could crash at $ 100 as DEX volume, chain fees

The price of Solana remains in the bear market after fell over 57% of its highest levels this year, with greater foreign probable.

Solana (Salt) has fallen at $ 126.5. March, bringing their market cover to 64.45 billion just 127 billion just a few months ago, deleting approximately $ 63 billion.

The current decline in Solan has been launched by great challenges within its ecosystem. Its meme market collapsed, with a total market cover of Solana’s basis, drops over $ 25 billion in January to $ 7.2 billion. Only official Trump at the moment (Abdomen) Maintains a market cap above $ 1 billion.

This decline led to a significant dropping volume of trading which is shown by decentralized solane-based exchanges, such as radium, orca and meteor. Defi Llama Data It shows that the volume on these platforms fell by over 34% in the last seven days to $ 8.3 billion.

Compared, DEK protocols on the BSC network processed $ 14.2 billion in the same period, while Etherum Dex has processed $ 9.65 billion. During the last 30 days, Solane DEK protocols operated $ 61 billion in volume, 78 billion dollars last.

This signifies the main reversal, because Solana was the most active Dex Trading Chain since October last year. The decline also affected the network income. The data show that Solana generated $ 21.2 million in revenue from $ 90 million last month and the top of $ 258 million in January.

Technical analysis of the prices of Solana

The daily shows that Sol was in a strong trend down over the last few months. It is connected to $ 295 in February to $ 126 as they amplify challenges within their ecosystem.

Solana formed a fatal cross sample as 50-day and 200-day movement of average, 3. Marta. The coins now forms a bear sample of Zagman, which is composed of a long vertical line and a rectangular pattern. This form usually results in a strong bear breakdown.

Pennant develops at the level of critical support that Solana struggled to spoil since April last year. The confirmed breakdown below this level would probably start further losses, with the following goal of about $ 100, approximately 25% below the current price.