SOL was down by 2% in the last 24 hours, and market indicators were bearish.Total Value Locked has been rising since the beginning of this year. In fact, the metric continued to hold at its highest value since January 2023. This was encouraging, as it indicated that the number of assets that were being staked on Solana was high.Apart from TVL, its revenue also gained an upward momentum, which was positive for the blockchain’s growth.
, SOL’s price declined by nearly 2% in the last 24 hours alone. At press time, it was trading at $24.55 with a market cap of over $9.9 billion.The price decline was accompanied by a considerable increase in its trading volume, which is typically bearish.Additionally, the Bollinger Bands revealed that the token’s price entered a less volatile zone, decreasing the chances of a sudden northbound movement.