Solana Struggles Below 50-Day SMA Amid Low Trading Volumes

Solana's price continues to trade in a narrow range below its 50-day Simple Moving Average (SMA), limiting buyers' attempts to restore sustained upside momentum. Trading volumes have declined, constraining any potential breakouts.

The Solana Foundation has implemented a new Transaction v1 format, increasing the maximum transaction size from 1,232 bytes to 4,096 bytes. This upgrade will allow for more complex atomic transactions and simplify processing for validators.

The $76.30 level remains crucial for Solana's next move. If buyers fail to break above this price, the risk of a decline towards psychological support at $70 increases. Conversely, a decisive move above the 50-day SMA could strengthen short-term momentum and open the way towards the $80-$81.50 area.