Solana (SOL), the seventh largest cryptocurrency by market capitalization, traded down 1.40% in the last 24 hours to $84, according to CoinMarketCap. Following three straight days of rise at the week’s start, Solana saw profit taking, now entering its third day of drop since March 4. Solana fell to a low of $83.67 early Saturday as the broader crypto market fell on a stronger dollar index. The dollar posted its sharpest weekly gain in a year, creating a direct headwind for cryptocurrencies.
Two liquidity clusters come into focus for Solana: a small cluster around $95 on the upside and a large cluster near $78–$85 on the downside. Analyst Ted Pillows said a sweep of downside liquidity could occur in the coming sessions, potentially paving the way for a rally. Solana’s total payment volume growth remains robust, up about 755.3% year over year. Western Union is issuing a new stablecoin on Solana, moving treasury operations on-chain and opening Solana apps to its network of more than 500,000 retail agents.
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