Solana Price Plunges to Lowest Level in Years Despite Strong Network Metrics

Solana price has crashed to its lowest level since January 2024, despite strong network metrics such as high transaction counts and growing active addresses. The price drop is largely due to the broader crypto market crash, with Solana's fundamentals remaining solid. The weekly chart shows a bearish head-and-shoulders pattern, with the price moving below the neckline and the 50-day and 100-day Exponential Moving Averages. Sellers are targeting the next key target at $70.