Is Solana’s $100 Dream Over? 21% Decline in New Addresses Raises Red Flags!

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Solana Price’s Rise To $100 Under Threat by 21% Pullback From Key Holders

Solana (SOL) is currently trading at $90, a slight decrease of 1.09%. It hasn’t yet reached the expected target of $100 and is struggling to maintain its upward trend.

While the price is recovering, two key indicators suggest there aren’t as many buyers supporting this increase as it might seem. The $96 level is a critical point – if the price can’t break above it, the recovery could stall, but if it does, it signals a real upward trend.

New Addresses Pull Away From Solana

Solana saw a surge in new users in early March, with around 8.6 million new addresses joining daily. However, by the end of the month, this number decreased to approximately 6.5 million – a drop of 21%. This decline has continued consistently even as the price of Solana has tried to go up.

When new digital wallets appear on the Solana network, it often signals new money entering. However, if Solana’s price goes up while the number of new wallets stays flat, it suggests current owners are the ones buying, not newcomers. Price increases driven by existing holders often lose momentum before reaching significant price levels.

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The current price level is holding back the idea that Bitcoin will reach $100. To truly break above $96, we’d need to see new users joining the network, which hasn’t happened yet.

Sellers Continue To Absorb Recovery Attempts

During the recent price increase, the Chaikin Money Flow (CMF) showed a concerning pattern. While the price rose to around $90 between February 25th and March 24th, the CMF actually decreased, reaching a high of only +0.16. This difference between price and CMF suggests weakening buying pressure.

This price pattern strongly suggests a likely downward trend for Solana. While the price continued to reach similar levels, each attempt required less and less buying power. Simultaneously, sellers became more aggressive, quickly overpowering each upward move.

The CMF is currently at -0.04, which suggests sellers are consistently ending the day with lower prices. This, along with a 21% decrease in new users, indicates that there isn’t enough buying interest to push the price above $96 or towards $100.

SOL Price May Struggle To Reach $100

Solana is currently trading around $90, finding support near $85 and following an upward trend. It’s approaching a key resistance level around $96, based on Fibonacci analysis. A significant resistance area between $96 and $100 is highlighted on the chart. However, indicators suggest a potential downturn – specifically, a divergence in the Chaikin Money Flow and a decrease in new addresses – leading analysts to believe the price may stall or reverse course rather than continue rising past that resistance zone.

Coin Days Destroyed (CDD) data could be a significant indicator of future price movements. A large spike of around 3.5 billion occurred on March 5th, right when the price hit its lowest point – likely representing older SOL coins being moved by fearful investors. Since then, CDD has stabilized at typical levels of 100–300 million per day, with no similar spike observed on March 24th. This suggests that long-term holders aren’t selling their coins, which helps to limit potential downward price pressure.

The current assessment relies on Coin Days Destroyed (CDD). If we see a significant increase in CDD – around 3.5 billion coin days – alongside a daily closing price above $96, it would suggest that long-term coin holders are becoming more active and confident. If that happens, the next price targets could be $103 and $108, but only if the price first breaks through the $100 level.

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2026-03-24 15:27