{"id":834143,"date":"2025-03-15T08:11:33","date_gmt":"2025-03-15T13:11:33","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/15\/solana-sol-is-there-any-good-news-after-trading-volume-hits-2024-low\/"},"modified":"2025-03-15T08:11:33","modified_gmt":"2025-03-15T13:11:33","slug":"solana-sol-is-there-any-good-news-after-trading-volume-hits-2024-low","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/15\/solana-sol-is-there-any-good-news-after-trading-volume-hits-2024-low\/","title":{"rendered":"Solana [SOL] \u2013 Is there any good news after trading volume hits 2024 low?"},"content":{"rendered":"<div id=\"single-post-wrapper\">\n<p><img width=\"1200\" height=\"675\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/Solana_Abdul-1200x675.webp\" alt=\"Solana [SOL] - Is there any good news after trading volume hits 2024 low?\" decoding=\"async\" fetchpriority=\"high\"  >\n\t\t\t\t\t\t<\/p>\n<div>\n<div>\n<div>\n<p><img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" alt=\"Avatar\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/Image_20240813_070537_637-e1723616062313-80x80.jpeg\" height=\"48\" width=\"48\"><\/p>\n<p>Journalist<\/p>\n<\/p><\/div>\n<div>\n<h4>Share this article<\/h4>\n<\/p><\/div>\n<\/p><\/div>\n<div>\n<ul>\n<li><em><span>Solana has seen a significant decline in trading volume, with the same falling to its lowest level of 2024<\/span><\/em><\/li>\n<li><em><span>On the charts, SOL might be at the risk of dropping lower, especially if total value locked (TVL) falls further<\/span><\/em><\/li>\n<\/ul>\n<p><span>Over the past month, <a href=\"https:\/\/ambcrypto.com\/predictions\/solana-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Solana\u2019s price<\/a> has exhibited some sluggish market performance, dropping by 36% on the charts. At the time of writing, martket sentiment seemed to be hinting at a further decline as more sellers stepped in.<\/span><\/p>\n<p><span>An analysis of liquidity movement revealed a hike in SOL outflows over the past month. This is a trend that appears to be continuing, particularly as it loses a key support level that would typically provide a rebound.<\/span><\/p>\n<h2><span>Momentum falls massively as SOL weakens<\/span><\/h2>\n<p><span>A major contributing factor to Solana\u2019s decline has been the sharp drop in momentum. In fact, press time data revealed that the altcoin\u2019s trading volume has fallen to its lowest level, with just $3 million in daily trading volume \u2013 A level last seen in September 2024.<\/span><\/p>\n<p><span>When both trading volume and price fall simultaneously, it means that market participants are selling their holdings. This could potentially lead to further drops in demand.<\/span><\/p>\n<div id=\"attachment_475290\">\n<p><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/43820998-8C97-4D12-8BA7-AE1916104F40.jpeg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-475290\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/43820998-8C97-4D12-8BA7-AE1916104F40.jpeg\" alt width=\"900\" height=\"506\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20900%20506'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/43820998-8C97-4D12-8BA7-AE1916104F40.jpeg 900w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/43820998-8C97-4D12-8BA7-AE1916104F40-300x169.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/43820998-8C97-4D12-8BA7-AE1916104F40-768x432.jpeg 768w\" data-lazy-src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/43820998-8C97-4D12-8BA7-AE1916104F40.jpeg\"><\/a><\/p>\n<p id=\"caption-attachment-475290\">Source: Glassnode<\/p>\n<\/div>\n<p><span>TVL, which tracks liquidity flow within Solana-based protocols, also dropped significantly. After peaking at $12.19 billion in January, it has nearly halved, with the same standing at $6.69 billion at press time.<\/span><\/p>\n<p><span>Such massive liquidity outflows across protocols are a sign that investors who initially locked their assets are now selling them. This, likely due to declining confidence in the asset and an effort to protect themselves from further price drops.<\/span><\/p>\n<h2><span>Potential drop to $100 or below<\/span><\/h2>\n<p><span>AMBCrypto\u2019s analysis of SOL\u2019s price movement suggested that the asset could decline to $100 after losing the key support level at $128.01.<\/span><\/p>\n<p><span>Typically, support levels provide a cushion for price and facilitate rebounds, creating a drop-to-rally scenario. However, when they are breached, it means that selling momentum outweighs buying pressure at those levels.<\/span><\/p>\n<div id=\"attachment_475293\">\n<p><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/7D1B3657-D41B-4014-A116-C569FA67C356.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-475293\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/7D1B3657-D41B-4014-A116-C569FA67C356.png\" alt width=\"1281\" height=\"615\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%201281%20615'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/7D1B3657-D41B-4014-A116-C569FA67C356.png 1281w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/7D1B3657-D41B-4014-A116-C569FA67C356-300x144.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/7D1B3657-D41B-4014-A116-C569FA67C356-1024x492.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/7D1B3657-D41B-4014-A116-C569FA67C356-768x369.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/7D1B3657-D41B-4014-A116-C569FA67C356-1200x576.png 1200w\" data-lazy-src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/7D1B3657-D41B-4014-A116-C569FA67C356.png\"><\/a><\/p>\n<p id=\"caption-attachment-475293\">Source: TradingView<\/p>\n<\/div>\n<p><span>If SOL fails to hold above the next support at $100.34, further declines to $85 could follow. This will bring the asset back to the two-digit price range\u2014A level last seen in 2024.<\/span><\/p>\n<p><span>An analysis of the liquidation heat map revealed several liquidity clusters between $120 and $114. These clusters often act as magnets, drawing the price towards them and, in some cases, pushing it lower. <\/span><\/p>\n<p><span>Given the prevailing downtrend, SOL could drop even further, setting new lows on the charts.\u00a0<\/span><\/p>\n<div id=\"attachment_475292\">\n<p><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/39B83D14-9D6F-40EB-B11D-A017A5B95F87.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-475292\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/39B83D14-9D6F-40EB-B11D-A017A5B95F87-1024x800.png\" alt width=\"740\" height=\"578\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20740%20578'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/39B83D14-9D6F-40EB-B11D-A017A5B95F87-1024x800.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/39B83D14-9D6F-40EB-B11D-A017A5B95F87-300x234.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/39B83D14-9D6F-40EB-B11D-A017A5B95F87-768x600.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/39B83D14-9D6F-40EB-B11D-A017A5B95F87-1536x1200.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/39B83D14-9D6F-40EB-B11D-A017A5B95F87-2048x1599.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/39B83D14-9D6F-40EB-B11D-A017A5B95F87-1200x937.png 1200w\" data-lazy-src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/39B83D14-9D6F-40EB-B11D-A017A5B95F87-1024x800.png\"><\/a><\/p>\n<p id=\"caption-attachment-475292\">Source: Coinglass<\/p>\n<\/div>\n<h2><span>Not all traders are bearish<\/span><\/h2>\n<p><span>In the derivatives market, some traders have been placing long bets in anticipation of a SOL rebound. Recently, buying volume in the derivatives market has increased alongside the OI-weighted funding rate.<\/span><\/p>\n<p><span>Coinglass\u2019s long-to-short ratio, which measures the buying volume relative to selling volume, had a reading of 1.004 at press time. A level above 1 indicates that there are more buyers than sellers within that period.<\/span><\/p>\n<div id=\"attachment_475291\">\n<p><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/59FA4FC7-B682-4699-95A9-E0C560EBB733.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-475291\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/59FA4FC7-B682-4699-95A9-E0C560EBB733.png\" alt width=\"1365\" height=\"406\"   data-old-src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%201365%20406'%3E%3C\/svg%3E\" data-lazy-srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/59FA4FC7-B682-4699-95A9-E0C560EBB733.png 1365w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/59FA4FC7-B682-4699-95A9-E0C560EBB733-300x89.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/59FA4FC7-B682-4699-95A9-E0C560EBB733-1024x305.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/59FA4FC7-B682-4699-95A9-E0C560EBB733-768x228.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/59FA4FC7-B682-4699-95A9-E0C560EBB733-1200x357.png 1200w\" data-lazy-src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/03\/59FA4FC7-B682-4699-95A9-E0C560EBB733.png\"><\/a><\/p>\n<p id=\"caption-attachment-475291\">Source: Coinglass<\/p>\n<\/div>\n<p><span>This buying sentiment can be further confirmed by the OI-weighted funding rate, which combines Open Interest and funding rate data to provide a more accurate market sentiment reading. At the time of writing, the sentiment had turned positive, registering at 0.0086% thanks to an uptrend that began on 13 March. This hinted at an increase in long positions.<\/span><\/p>\n<p><span>If buying volume in the derivatives market remains strong and <a href=\"https:\/\/ambcrypto.com\/category\/solana-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Solana<\/a> reclaims the lost support at $128, a rebound could be imminent. Otherwise, the altcoin could fall even further.<\/span><\/p>\n<div>\n<h4>Share<\/h4>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/ambcrypto.com\/solana-sol-is-there-any-good-news-after-trading-volume-hits-2024-low\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Olayiwola Dolapo<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Journalist Share this article Solana has seen a significant decline in trading volume, with the same falling to its lowest level of 2024 On the charts, SOL might be at the risk of dropping lower, especially if total value locked (TVL) falls further Over the past month, Solana\u2019s price has exhibited some sluggish market performance<\/p>\n","protected":false},"author":1,"featured_media":834144,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47657,391],"tags":[],"class_list":{"0":"post-834143","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-solana","8":"category-trading"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/834143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=834143"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/834143\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/834144"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=834143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=834143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=834143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}