Soldex USD Price & Performance (SOLXUSD)

Solana's price has been under strain, dropping 35% over the past month as a significant token unlock looms. The release of 11.2 million SOL tokens, valued at $2.06 billion, has fueled fears of increased selling pressure. This development, combined with negative funding rates, suggests further downside potential for the cryptocurrency.123

Solana has faced growing bearish sentiment as its memecoin ecosystem falters. A recent downturn in memecoin projects, including significant losses in market capitalization, has led to a shift in trader positions. The ratio of short to long positions has risen sharply, reflecting reduced confidence in Solana's short-term recovery prospects.453

Solana continues to face challenges in reclaiming critical price levels amid broader market weakness. Trading around $125, the cryptocurrency remains under pressure, with analysts pointing to a bearish trend. Despite forming a potential bullish pattern, Solana must overcome resistance at $130 to signal a recovery.623