Is Solana’s Downtrend Ending? Positive Inflows Suggest a Reversal on the Horizon

Solana (SOL) faces heavy losses as Bitcoin’s drop triggers a broader market sell-off. Glassnode shows positive capital inflows for Solana, signaling a potential trend reversal. Solana price decline mirrors the market downturn, with $13.42M in long liquidations reported. On May 15, Solana (SOL) suffered significant losses after Bitcoin fell below 103,000. This action set off a wide selling rush in the crypto market, with many altcoins, including Solana, plummeting. SOL is currently down 8% at press time and trading at $171.02. This decline has raised concerns that Solana could test lower support levels near the $150 mark. In spite of these losses, data obtained from Glassnode shows how Solana may reverse its negative trend. Solana has started to revive after some months of realized cap outflows. The 30-day capital inflows have been growing positively at around 4-5%. This means that demand for Solana among investors is resurging, increasing interest in the network. After a few months of realized cap outflows, $SOL is showing signs of a trend reversal. Its 30-day capital inflows are now back in positive territory – growing at ~4–5%, on par with $XRP . Th… The post Is Solana’s Downtrend Ending? Positive Inflows Suggest a Reversal on the Horizon appeared first on Coin Edition .

Source: Coin Edition