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I just saw that Solana remains in the red today, dropping nearly 3% over the past 24 hours. The token is trading around $83, quite far from the highs it recently hit at $145. The key factor right now seems to be the liquidation pressure we see across the entire crypto market.
Liquidated positions are around $350 million according to what I read elsewhere. It's one of those days when trading volume also drops, just $42 million in 24 hours. When you see these numbers together, it makes sense that the price is pulling back.
The interesting part is to see whether Solana manages to find support at these levels or if liquidations continue to push prices down further. For now, it seems the market is seeking balance after that strong previous move.