Solana has dropped 15% in the past week, showing no signs of recovery. Futures market activity is decreasing, with short-term holders selling off positions. Open interest in SOL futures has fallen by 17% since September 19, signaling decreasing market participation and trader confidence.

Short-term holders of SOL are barely in profit, with the Net Unrealized Profit/Loss (NUPL) at 0.039, indicating weak sentiment and potential for further selling. If buyer demand does not pick up, SOL could drop below $200 and reach $195.55. However, renewed buyer interest could stabilize the altcoin and lead to a rebound to $219.29.

Read more at Yahoo Finance: Solana Traders Are Losing Faith As Price Risks Falling Below $200