Solana continues to struggle after a recent price decline, hovering below $130 resistance. The altcoin’s stability depends on existing holders rather than new market entrants. On-chain data shows signs of stabilization, with the Chaikin Money Flow indicating slowing capital outflows. Despite this, new Solana addresses have dropped by 11.3%, signaling weaker speculative interest. The immediate goal is to reclaim $130 for a shift in momentum. Downside risks remain if sentiment worsens, potentially pushing Solana below $123 support. Maintaining accumulation and inflows are crucial for a potential rebound.

Read more at Yahoo Finance: Solana Price Depends On Existing SOL Holders, Here’s Why