Solana holds $84 support as weekly active addresses drop to 2.9M
Solana holds the ~$84 support. Network use falls, while crowd sentiment turns bullish.
An SR pivot near $84 continues to hold, preserving the bullish market structure and capping downside for now source. Analyst Venture says the level acts as a base, with quick moves likely once momentum flips source. On higher timeframes, this aligns with a major SR that previously survived “70% correction” calls; downside risk rises if this level breaks and money flow turns negative source.
Weekly active addresses dropped from ~5.01M in early February to ~2.89M, signaling softer on-chain engagement source. At the same time, sentiment around Solana platforms is at the highest since January source.
Bullish mentions outweigh bearish by roughly 3.2 to 1 across social platforms, with a “catch-up” or mean-reversion breakout narrative gaining traction after underperformance versus Bitcoin source.
Technically, traders flag two nearby levels. MCO Global notes SOL is tracking Bitcoin momentum with the broader wave structure intact source. Holding the signal line at ~$85.50 is key to maintain bullish momentum on the setup source.
Key levels to watch:
- ~$84 SR support holding for now source
- ~$85.50 signal line for trend confirmation source
- Breakdown risk if SR is lost and money flow flips negative source
