Solana Treasuries Are Growing, But Price Drops Take a Toll

Solana (SOL) has been struggling below $150 since March 3, with its technical indicators still pointing to a bearish trend. The number of Solana whales has declined in recent days, suggesting some large holders may be reducing exposure.

Meanwhile, Solana’s total value locked (TVL) remains below $10 billion, highlighting weakening engagement in its DeFi ecosystem. For SOL to regain bullish momentum, it would need renewed whale accumulation, a recovery in TVL, and a breakout above key resistance levels.

Solana TVL Stuck Below $10 Billion Since February 22

Solana’s total value locked (TVL) has been steadily declining. It is currently at $8.87 billion, and the last time it surpassed $10 billion was February 22.

TVL represents the total amount of assets deposited in a blockchain’s decentralized finance (DeFi) protocols, serving as a key indicator of network activity and investor confidence.

A higher TVL suggests strong ecosystem engagement, while a declining TVL can indicate reduced liquidity and fading interest.

With Solana’s TVL continuing to drop, it raises concerns about potential weakening demand for its DeFi ecosystem, which could impact SOL’s price, at a moment when the chain and some of its major players have been suffering criticism from the community.

A declining TVL often reflects lower capital inflows and reduced activity in lending, staking, and trading protocols, limiting upward price momentum.

For Solana’s bullish case to strengthen, its TVL would need to stabilize and recover, signaling renewed investor confidence and increased network utility.

Whales Stopped Accumulating SOL

The number of Solana whales – addresses holding at least 10,000 SOL – grew between February 28 and March 3, rising from 4,953 to 5,053. However, since then, the number has steadily declined, now sitting at 5,023.

Tracking whale activity is crucial because large holders can influence market trends. Accumulation often signals confidence in price appreciation, and distribution often indicates potential selling pressure.

A sustained increase in whale numbers typically suggests strong demand, while a decline can hint at weakening sentiment.

With the recent drop in Solana whale addresses, there are concerns that some large holders may be reducing exposure, which could create selling pressure on SOL.

If this trend continues, it could limit upward momentum and lead to price consolidation or declines.

However, if whales resume accumulation, it would indicate renewed confidence in Solana’s long-term prospects, potentially supporting a stronger price recovery.

Solana Still Struggles to Breach $150

Solana’s EMA lines indicate that the current setup remains bearish, with short-term averages still positioned below long-term ones.

This alignment suggests that downward pressure persists, limiting immediate upside potential.

However, if the trend reverses and buying momentum strengthens, SOL could climb toward $160.7, and a breakout above this level could push it further to test the $180 resistance.

On the downside, if bearish momentum intensifies, Solana price could retest support at $130.

A breakdown below this level could drive the price lower, potentially testing $125.

The post Solana (SOL) Struggles Below $150 as Whale Accumulation Slows appeared first on BeInCrypto.

PI Network bulls appear to be making a comeback, thanks to an improvement in overall market sentiment over the past 24 hours. 

The token’s price has climbed by 4% in the past 24 hours, sparking speculation about whether a new bullish phase is about to begin.

Buy Pressure Builds in PI

PI’s 4% uptick has triggered a bullish crossover on its Moving Average Convergence Divergence (MACD). For context, the token’s MACD line (blue) has just crossed above its signal line (orange) for the first time since July 1, signaling growing bullish momentum.

The MACD indicator identifies trends and momentum in its price movement. It helps traders spot potential buy or sell signals through crossovers between the MACD and signal lines. 

As with PI, when the MACD line crosses above the signal line, it signals bullish momentum, suggesting that buying activity is increasing. Traders interpret this setup as a buy signal, which could add more upward pressure on the meme coin’s price.

While PI’s MACD and signal lines remain below zero because of its prolonged bearish trend, this crossover highlights a cooldown in selloffs as bulls attempt to regain market control. 

Further, readings from the PI/USD one-day chart show its Balance of Power (BoP) at 0.61, indicating that buy-side pressure is gaining strength. 

The BoP indicator measures the strength of buyers versus sellers in the market, helping to identify momentum shifts. When its value is negative, sellers dominate the market, with little to no buyer resistance. 

Conversely, positive BOP readings like this suggest buyers dominate the market over sellers and drive newer price gains. 

Can Buying Pressure Carry PI Across the Line?

PI currently trades below resistance at $0.477. If demand climbs, the altcoin could flip this barrier into a support floor, propelling its price toward $0.508.

However, for PI to sustain this upward momentum and push toward higher resistance levels, there must be a significant influx of new demand to absorb the existing supply. 

Without fresh buying pressure, the current rally could quickly lose steam. In that case, PI risks slipping back into its previous consolidation range—or worse, falling toward the $0.445 support level.

The post Pi Network Prints First Major Bullish Signal Since July 1 — What’s Next? appeared first on BeInCrypto.