Solana Price Today: $170.37
- Solana price slips to $170 at the time of writing, down nearly 4% on the day.
- Solana economic activity hit its fourth consecutive all-time high, according to Blockworks data.
- SOL could correct over 5% if it extends its losses further.
Solana (SOL) corrects to the $170 level early on Friday. The native token of the Solana blockchain is in a state of decline even as on-chain metrics suggest rising activity on the chain.
Data from Blockworks shows that Solana has noted a spike in its activity, likely in response to meme coins and demand for these tokens. However, this has failed to catalyze gains in the altcoin.
Solana on-chain metrics fail to push price higher
Blockworks data shows that economic activity on the Solana blockchain has hit an all-time high for the fourth time. Analyst behind the X handle, @0xMert_ notes that Solana’s blockchain has noted a breakout in response to tips on the liquid staking protocol, Jito.
Real Economic Value of Solana
SOL price remains unaffected by the growth in on-chain activity and rising economic activity.
Solana could slip 5% lower
Solana has been in an upward trend. SOL corrected to the $170 level on Friday. If the altcoin corrects further, it could drop nearly 5% and sweep liquidity at $160.99. This level marks the October 21 low that coincides with the lower boundary of the Fair Value Gap (FVG).
SOL could find support in the imbalance zone between $156.65 and $157.58.
The Relative Strength Index (RSI) reads 61.45, and is sloping downward. This implies that there is underlying negative momentum in Solana price, it supports the bearish thesis for SOL.
SOL/USDT daily chart
A daily candlestick close above the $179 level, the Thursday high for the altcoin, could invalidate the bearish thesis for SOL. Solana could test the August 2024 peak of $185.10.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement
Supra’s 25% surge on Friday calls attention to lesser-known cryptocurrencies as Bitcoin, Ethereum and XRP struggle. Cosmos Hub remains range-bound while bulls focus on a potential inverse head-and-shoulders pattern breakout.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin price remains under selling pressure around $82,000 on Friday after failing to close above key resistance earlier this week. Donald Trump’s tariff announcement on Wednesday swept $200 billion from total crypto market capitalization and triggered a wave of liquidations.
Can Maker break $1,450 hurdle as whales launch buying spree?
Maker is back above $1,300 on Friday after extending its lower leg to $1,231 the previous day. MKR’s rebound has erased the drawdown that followed United States President Donald Trump’s ‘Liberaton Day’ tariffs on Wednesday, which targeted 100 countries.
Gold shines in Q1 while Bitcoin stumbles
Gold gains nearly 20%, reaching a peak of $3,167, while Bitcoin nosedives nearly 12%, reaching a low of $76,606, in Q1 2025. In Q1, the World Gold ETF's net inflows totalled 155 tonnes, while the Bitcoin spot ETF showed a net inflow of near $1 billion.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.