Solana price forms alarming pattern, key metrics plunge

Solana  token was trading at $124.50, and could be at risk of further downside after forming bearish chart patterns on the daily chart. Some of its most important metrics have also dropped in the past few weeks. 

Nansen data indicate that the number of transactions declined by 10% over the past 30 days, to 1.79 billion. Despite this decline, Solana remains the most active network in the crypto industry, with transactions exceeding those of the next five chains combined.