Solana, increased liquidity amidst $80 support line crisis
Solana (SOL) is struggling with bearish momentum around $83. As of May 27, 2 PM, SOL traded at $83.53, down 0.89% from 24 hours prior. Trading volume increased by 24.7% from the previous day, reaching $3.5 billion. This is about a 70% drop from its all-time high of $294.87 recorded in January 2025. Market participants analyze that Solana is stuck in a narrow box range between $82 and $86. Especially, the breakdown of the psychological support line of $80 has emerged as a key variable determining short-term direction. Open interest (OI) in the futures market decreased from $6.77 billion in mid-May to $5.45 billion currently. However, $250 million in USDC has flowed into the ecosystem, indicating 'active' ecosystem health.
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