#ETH Back to $3,800#

Solana
recently tried to break the $200 mark but couldn't hold it due to changes in investor sentiment. The altcoin briefly surpassed this level but couldn't maintain the momentum.
The Liveliness metric has sharply increased over the last 12 days, reaching a monthly high. This indicator reflects the activity of long-term holders (LTH), and its sharp rise typically indicates selling.
This cohort of investors has a particularly strong influence on the price. Large-scale sales threaten to intensify downward pressure, complicating the recovery of Solana.
Meanwhile, the number of new addresses has reached a monthly low, and the daily rate of their creation has significantly decreased. In the last 48 hours, Solana has lost 1.4 million new addresses, highlighting the lack of interest from new investors.
This factor is likely to prolong the downward trend. As fewer people are willing to invest in the asset, its price will likely continue to fall.
At the time of writing this analysis, Solana is trading at $187, just below resistance at $188. After losing the $200 level, the altcoin is facing difficulties in maintaining its value. Sales by LTH and the retreat of new investors are complicating the situation for Solana.
Under the current market conditions, Solana is vulnerable to further declines. If selling continues, the price risks falling below $176, which would increase losses for investors and confirm the bearish sentiment around the altcoin.
However, if market conditions improve, Solana may recover. If the altcoin rises above $188 and holds that level, it could aim for a rise to $201, getting a chance to surpass $200 again.