Capital Movement in Blockchain Networks

Capital movement across blockchain networks is a key sign for judging investor confidence and network activity. In the last week, Base blockchain emerged on top for positive net flow, outperforming all other chains.

Base and Solana Dominate Blockchain Net Inflows

Solana followed closely behind, securing second place despite ongoing concerns about its network stability.

Bitcoin, Ethereum, and Arbitrum also reported positive net flows, but to a lesser extent. In contrast, Polygon PoS, Sui, and StarkNet saw minor inflows, while Avalanche C-Chain and OP Mainnet experienced significant outflows. Notably, OP Mainnet exhibited the largest capital outflow, indicating weaker investor sentiment.

> BASE is the only chain doing better than $SOL.
> Amazing considering the sentiment around $SOL.
> — Altcoin Buzz (@Altcoinbuzzio) February 18, 2025

Base Overtakes Solana in Capital Inflows

Despite market uncertainty, Base has emerged as the leader in net capital inflows, which is significant considering Solana’s previous lead position.

Market sentiment surrounding Solana has been mixed due to past outages and discussions of centralization. Nevertheless, its ability to continue attracting strong inflows shows confidence in its long-term potential. The recent influx of capital highlights investor optimism, even amid price fluctuations.

Solana Price Analysis: Key Levels to Watch

Solana’s price has recently decreased, trading at $172.16 after a 6.45% drop in the past 24 hours. The price reached an intraday peak of $184.03 but faced resistance, creating a downward trend.

Resistance levels formed around $184-$186, leading to increased selling pressure and a subsequent pullback. Key support levels include $172, $170, and the $165-$168 range. Failure to maintain above $172 could push the price towards $170, with a potential retest of the $165-$168 support zone where buyers might re-enter.

Market sentiment remains cautious, with a trading volume increase of 61.85%, predominantly from sellers. Solana’s market capitalization also declined by 6.45%, indicating reduced investor confidence. However, a recovery above $176 could shift momentum, potentially pulling the price back towards the $180 range.

Related: Solana Meme Coins Plummet By 91%, But Analysts See Signs of Massive Rebound

Technical Indicators Point to Caution

SOL/USD Daily Price Chart. Source: TradingView

The Relative Strength Index (RSI) stands at 31.27, nearing oversold territory, indicating a potential bounce if buying pressure increases. However, the downward trajectory of the RSI still reflects dominant bearish sentiment.

The Moving Average Convergence Divergence (MACD) indicates a bearish crossover, with the MACD line at -2.69, below the signal line at -10.11, confirming downside pressure. Negative histogram bars reinforce prevailing bearish momentum.

February 2025 Price Outlook for Solana

Market projections for February 2025 suggest a potential price increase of up to 10.51%, bringing Solana’s average price to approximately $189.50.

Projected price fluctuations indicate a range between $177.26 and $195.47, potentially offering a short-term return of around 13.99% from current levels.

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