Solana Price: Mid-term sideways trend
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•Solana Price Breakdown Looms as On-Chain Metrics Drop by 20%
65% Informative
Solana price dropped from $164 to $151 on a low-volatility weekend, registering a 7.5% loss.
This pullback can be attributed to a significant decline in classic on-chain activity, including active and new addresses.
The number of new addresses engaging with the network decreased from 1.27 million on August 1st to 980.68k, reflecting a 22.79% reduction.
The average Directional Index (ADX) below 25% suggests that sellers are losing their grip on this asset.
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