Cryptocurrency markets are currently witnessing varied performances from Solana 
$106 (SOL), Avalanche (AVAX), and Cardano 
$0.232192 (ADA). Solana’s total value locked (TVL) remains below $10 billion, and its price struggles to surpass the $150 resistance. Meanwhile, Avalanche has decreased by 4% to $20.67 due to fluctuations in Bitcoin (BTC) 
$82,774. Despite recent short-term downturns, Cardano stands out with positive signals in technical indicators.
Decline in Solana’s TVL and Whale Movements
Solana‘s total value locked has not exceeded $10 billion since February 22. With TVL dropping to $8.87 billion, this trend signifies a weakening in DeFi activity on the network. Such developments raise concerns about confidence and liquidity flow within the Solana ecosystem.
A significant decline has also been observed in whale activities. The number of wallet addresses holding over 10,000 SOL fell from 5,053 to 5,023 earlier this month. This diminished interest from major investors complicates Solana’s short-term recovery. If the price exceeds $160.7, it has potential to rise to $180, but a breach of the $130 support poses a risk of dropping to $125.
Avalanche and Cardano Technical Analysis
Avalanche has dropped by 4% to $20.67 in the last 24 hours. However, technical analysis suggests potential for a price increase to the $43.84 – $80.03 range if it surpasses the $30 mark. Fibonacci support levels indicate signals for a short-term recovery for AVAX, emphasizing the significance of overall market momentum.
Cardano tested levels below $0.83 but rebounded to $0.88, showing resilience. The “ascending broadening wedge” pattern detected in the three-hour chart indicates that a break above the $1.14 level could see the price rise to $2. Furthermore, the completion of the “cup and handle” formation supports the long-term bullish trend for ADA.
