Solana (SOL) is under significant pressure as technical failures and institutional exits weigh heavily on the cryptocurrency. Recent analysis indicates that SOL has completed a macro head and shoulders breakdown, a bearish pattern suggesting further downside. With the price structure showing lower highs and lows, and the Supertrend indicator remaining bearish, SOL's price could fall below $40 next month. Institutional behavior compounds these concerns, as Solana-linked ETFs experienced $11.9 million in net outflows in a single day, contributing to a sharp decline in assets under management.
In contrast, Remittix is gaining traction as Solana struggles. The project has raised over $29.3 million through token sales and is advancing its crypto-to-fiat payment system. Remittix's PayFi platform, launched on February 9, aims to facilitate digital asset transfers to bank accounts, offering practical utility in a market where Solana's structural weaknesses are highlighted. As Solana's outlook remains bearish, investors are increasingly drawn to projects like Remittix that demonstrate momentum and real-world application.
Solana Faces Potential Drop Below $40 Amid Technical and Institutional Pressures
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
