Solana’s SOL Drops Below Realized Price of $134 for First Time
Solana's SOL experienced an 8% decline, falling to $124 amid a broader crypto market drop. This marks the first time since May 2022 that SOL is below its realized price of $134, indicating most holders are at a loss, which may lead to panic selling.
Key points include:
- Realized price reflects the average cost basis of coins last moved.
- Current prices suggest a bearish sentiment among holders.
- Validators are discussing proposal SIMD-0228 to reduce network inflation from 4.7% to approximately 1.5%.
- Price resistance levels identified at $134 and $130; support levels at $120 and $115.
- A potential rebound to $134 could occur if $120 holds and $128 breaks with volume.