Solana price is stuck in a downward trajectory, with strong resistance forming around the $200 mark. Bulls need to push past this level to regain momentum.
Solana price faces strong resistance at $200, hindering its recovery attempt.
However, the market sentiment is bearish on Solana, with traders betting on further downside.
Solana price could slide toward $160 if bears capitalize on weak support levels.
Despite the bearish price action, Solana's DeFi ecosystem is expanding rapidly.
Major protocols like Jito and Jupiter have experienced exponential growth in total value locked.
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