Solana DEX volumes drop to 2024 lows: Will SOL hold $80 as support?

💡 DMK Insight

Solana’s DEX volumes are slipping, and that could push SOL down to $75. While the drop in trading activity might signal a bearish trend, it’s crucial to note that the network’s DApp revenue remains robust, suggesting underlying strength. Traders should be cautious as a correction to $75 could trigger stop-loss orders, amplifying downward pressure. However, if SOL holds above this level, it could present a buying opportunity for those looking to capitalize on potential rebounds. Keep an eye on the $75 support level—if it breaks, we might see further declines. On the flip side, the resilience in DApp revenue indicates that Solana’s ecosystem is still active, which could attract buyers at lower prices. Watch for any news or developments that could influence DEX activity or DApp usage, as these will be key indicators for SOL’s next move.