The post Solana Price Tests $220 Support Zone, Is a Deeper Drop Next? appeared first on Coinpedia Fintech News
Solana is feeling the weight of market hesitation again. After a strong run earlier this month, the Solana price has started to cool, slipping 3.1% to $219.82 in the past 24 hours. Traders appear to be treading carefully as the buzz around a possible Solana ETF approval meets a slowdown in on-chain activity.
For now, the conversation revolves around three main pressure points: fading user activity, the SEC’s ongoing delay on ETF approval, and repeated technical rejections around the $229–$230 resistance zone.
TVL Skyrockets Despite Mixed Sentiment?
Even with network activity cooling, Solana’s total value locked is hitting new highs. According to Token Terminal, it has hit $42.4 billion across top projects like Jito, Kamino, and Jupiter. That’s an impressive feat in a period of slower user engagement.
It suggests that while short-term traders are cautious,
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