Solana (SOL) has gone down by 16% in the past 30 days, and it is currently the worst-performing asset during this period, as ecosystem growth seems to be weakening.
Tough competition from Ethereum after the Pectra upgrade and the rising popularity of decentralized apps on the BNB Chain (e.g., Aster) could have pushed Solana to the backseat during a brief altcoin season.
The token failed to make a new all-time high while both of its competitors reached new price records.
On-chain data shows a steady decline in daily active users (DAUs) since the year started, moving from a peak of 6.9 million in January during the launch of $TRUMP and $MELANIA to 2.9 million as of last week.
Diminishing interest in the Solana ecosystem favors a bearish outlook for $SOL, especially at a point when other networks are not experiencing similar downtrends.
That said, institutional interest in the Solana blockchain is rising, as reflected by the $400 million that the first Solana ETF from REX-Osprey has raised since its launch in July. Moreover, a group of 9 companies have launched corporate treasuries focused on $SOL that have invested $2 billion into the token already.
This is a credibility boost for the project and could be the result of the upcoming Alpenglow upgrade – a major technical overhaul that could propel Solana transaction processing speeds to internet-like levels.
Solana Price Prediction: SOL Could Drop to $130 If It Breaks Below This Key Support
The daily chart shows that Solana is facing a make-or-break moment as it recently tagged the $175 support area.
This has been a key resistance and support area in the past, and could play a key role to determine where the token will be heading next.
On Friday, the U.S. will release its inflation data for September. The consensus estimate for the period is a 3.1% advance in prices on an annualized basis. However, if inflation accelerates, the Federal Reserve could opt to postpone its planned interest rate cut for this month.
If that happens, the market could tank and drag Solana along with it. In that case, the key support to watch for the token would be $130, meaning a 30% downside potential in the near term.
The Relative Strength Index (RSI) also favors a bearish outlook, as it has dropped below the 14-day moving average and the indicator’s mid-line. Since it has not yet hit oversold levels, it indicates that negative momentum is accelerating, which would result in further downside to SOL.
In contrast, if the token stays above $175, the odds of another push toward $200 will remain high.
As institutional interest in Solana keeps rising, the best crypto presales in this ecosystem, like Snorter ($SNORT), could deliver attractive gains in the near term. In a short period, this automated trading bot for meme coins has already raised $5.4 million to launch its Telegram-based solution.
Snorter ($SNORT) Brings AI-Powered Meme Coin Sniping to Telegram
Snorter ($SNORT) gives traders the edge they’ve been missing. Built around a high-speed Telegram bot, it lets users spot, snipe, and manage meme coin trades directly from a chat window – no charts, no endless tabs, no panic.
Instead of wasting hours chasing new tokens or dodging rug pulls, Snorter streamlines everything into one tool. It scans the Solana blockchain for risky contracts, filters out honeypots, and routes trades through MEV-resistant relayers for safer and faster execution.
You can automate token sniping, set profit targets, schedule buys and exits, or even mirror the trades of top wallets – all through simple chat commands. The team plans to expand beyond Solana soon, bringing this same precision to Ethereum, BNB Chain, and other major networks.
The Snorter presale ends in just 5 days. You still have a chance to grab this token at its discounted presale price before exchange listings give it a short-term boost.
To buy $SNORT, visit the official Snorter presale website, and connect your wallet. You can either swap USDT or ETH or use a bank card to invest.
