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Tag: Solana

  • Solana ETFs Attract $31M While Crypto Funds Lose $173M, Is SOL Gearing for a Possible Rally

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    While digital asset funds recorded significant capital outflows for a fourth consecutive week, Solana (SOL) has become one of the few assets still attracting fresh investment.

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    Similarly, the SOL price action shows the token locked in a tight consolidation range around $85, leaving traders watching closely for a decisive move. Recent data also shows Solana ETFs pulled in roughly $31 million in weekly inflows, even as broader crypto investment products lost $173 million.

    SOL's price trends to the downside on the daily chart. Source: SOLUSD on Tradingview

    Solana ETF Inflows Stand Out Amid Broader Market Withdrawals

    According to flow reports, crypto funds have faced sustained selling pressure, with the United States leading withdrawals while Europe and Canada recorded inflows. Despite the broader risk-off environment, Solana attracted new capital alongside a small group of alternative assets.

    The inflows suggest continued institutional interest through regulated investment vehicles, which typically require spot exposure or derivatives hedging tied to the underlying asset. Analysts note that such flows can provide steady demand, even when short-term market sentiment remains uncertain.

    However, ETF demand has not yet translated into a clear price recovery. Solana continues trading within a compressed range between roughly $77 and $90, signaling indecision among market participants.

    SOL Price Holds Key Support as $92 Remains Critical Resistance

    Technically, the SOL price has entered a consolidation phase after failing to maintain momentum above $90. The token is currently trading above the $85 region, supported by buyers defending the $82 level.

    Short-term charts show a rising channel forming, with resistance near $88 and a major barrier at $92. Analysts widely view a confirmed breakout above $92 as necessary to trigger a stronger rally, with potential upside targets around $95 and $102.

    On the downside, failure to hold support could expose lower levels near $76.50 or even $72. Some technical models also point to a bearish flag, suggesting a possible 25% decline to the mid-$60s if selling pressure accelerates.

    Momentum indicators present mixed signals. Oversold readings across several oscillators indicate selling exhaustion may be developing, yet trend-strength indicators still confirm that a broader downtrend remains intact.

    Network Growth and Long-Term Outlook Keep Bulls Interested

    Despite price weakness, on-chain developments continue to draw attention. Total value locked on the network has reached new highs, and institutional experimentation with the blockchain has expanded, signaling ongoing ecosystem activity.

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    Longer-term projections remain divided. Some analysts see evidence of reaccumulation patterns that could support a recovery if key resistance levels are reclaimed, while others warn macro conditions and declining risk appetite may limit upside in the near term.

    Cover image from ChatGPT, SOLUSD chart from Tradingview

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    James Halver

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  • Crypto Funds Bleed $173M As Outflows Extend To Fourth Week – Report

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    Crypto exchange-traded products (ETPs) have extended their negative streak to a fourth consecutive week after US market weakness pushed global funds to over $170 million in weekly outflows.

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    Crypto Funds Outflows Extend Amid US Weakness

    According to the latest CoinShares data, crypto-based investment products recorded their fourth week of outflows amid the negative market sentiment of the past month.

    In a Monday report, James Butterfill, head of research at CoinShares, shared that global crypto funds closed the week with negative net flows totaling $173 million, bringing cumulative four-week outflows to $3.47 billion.

    Crypto asset funds see negative net flows for fourth consecutive week. Source: CoinShares

    Notably, crypto ETPs recorded over $1.7 billion in outflows each of the last two weeks of January as the market sentiment shifted, marking the largest negative net flows since November 2025.

    Over the past two weeks, investment products have seen outflows of $187m and $173m, respectively.  The latest figures suggest that the strong selling pressure has slowed, although it has not yet reversed despite improved market sentiment.

    “The week began on a more positive note, with inflows of US$575m, followed by outflows of US$853m, likely driven by further price weakness. Sentiment improved slightly on Friday following weaker-than-expected CPI data, with inflows of US$105m,” he detailed.

    Meanwhile, ETPs’ trading activity also dropped notably, with volumes falling to $27 billion from a record $63 billion recorded the previous week.

    Butterfill noted that the funds also saw a sharp regional divergence in sentiment between the US and the rest of the world. Per the report, the US saw $403 million in outflows last week, while all other regions recorded $230 million in inflows.

    Germany, Canada, and Switzerland registered the strongest performance, with inflows worth $114.8 million, $46.3 million, and $36.8 million, respectively.

    Altcoins See Selective Resilience

    As the report noted, the two leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), saw the worst performance among major assets. The flagship crypto had the weakest sentiment, recording $133 million in negative net flows, fueled by BlackRock IBIT’s $235 million in outflows.

    crypto
    BTC, ETH lead outflows, while altcoins show demand. Source: CoinShares

    However, short Bitcoin investment products also recorded outflows, totaling $15.4 million over the past two weeks, “a pattern often seen near market lows,” Butterfill added.

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    Ethereum suffered $85.1 million in outflows, led by BlackRock ETHA’s $112.7 million, while Hyperliquid saw $1 million in outflows.  On the flip side, some altcoin-based investment products saw positive sentiment, continuing to attract fresh inflows last week.

    Crypto funds based on XRP led the charge with $33.4 million in inflows, adding to the previous week’s $63.1 million positive flows. Solana ETPs followed second with $31 million inflows, a notable increase from the $8.2 million recorded the week prior, signaling confidence in these assets despite the broader trend.

    crypto, TOTAL
    The total crypto market capitalization is at $2.35 trillion in the one-week chart. Source: TOTAL on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Solana Funding Rates Hit 17-Day Negative Streak — What This Means For Price

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    Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

    Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

    In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

    In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

    Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

    Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

    Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

    Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

    Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

    He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

    In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

    His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

    Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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    Semilore Faleti

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  • Solana Reclaims $80 Amid Friday Market Bounce – Analysts Set Next Targets

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    As the crypto market recovers, Solana (SOL) has bounced from a major level trendline and momentarily reclaimed a key horizontal level. Some analysts have signaled that a retest of a crucial short-term resistance could be coming, while others have warned that a breakdown to new lows remains possible.

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    Solana Bounces From Two-Year Trendline

    On Friday, Solana bounced 10.3% to break past the $85 area for the first time in three days. The cryptocurrency has been hovering between $78-$88 over the past week, briefly falling to $67 during last Thursday’s correction.

    SOL lost the mid-zone of its local range after recent market volatility, falling below $80 on Thursday. However, Today’s rebound has sent the altcoin above these recently lost levels, setting the stage for a potential recovery.

    Amid this performance, market observer Daan Crypto Trades highlighted that the cryptocurrency has reclaimed the key $80 level, which has historically served as major resistance and support.

    To the trader, the Solana must hold above this area and form a base above it before “watching for a low-timeframe market structure break back to bullish.” Analyst Ali Martinez observed that sustained buying pressure could push SOL’s price toward the $88 level, not seen since the start of the week.

    SOL recovery targets the $88 range highs. Source: Ali Charts on X

    The altcoin has been unable to break above this level since last week’s breakdown, becoming a key short-term resistance area. A breakout from this level could open the door for a retest of the $90-$96 zone, where the April 2025 lows are.

    Meanwhile, Crypto Batman noted that Solana is retesting its two-year descending trendline in the weekly timeframe, located around the recent lows. The chart shows that the macro trendline has been holding since early 2024 and has been tapped multiple times throughout the cycle.

    As the analyst explained, “Over the past 2 years, every time the price touches this level, a massive reversal occurs.” During this period, it has also marked the bottom of each major correction, with the latest retest taking place in Q2 2025 and leading to the following quarter’s rally.

    SOL Breakdown Still Coming?

    Despite the bullish outlooks, other market watchers have shared potential bearish forecasts for Solana if momentum weakens. Altcoin Sherpa warned that SOL could drop to $50 if selling pressure pushes the price below a crucial area.

    The chart shows that after losing the 200-week Exponential Moving Average (EMA), around the $121 mark, and the April 2025 lows, the key area to hold is the recently visited local range lows.

    As the analyst displayed, if the cryptocurrency fails to hold the $77-$78 price area, the next major historical support sits near the November 2023 breakout area, around the $51 mark.

    Market watcher Crypto Bullet suggested that Solana’s bottom may not be in yet, arguing that “those who bought BTC above $80k and SOL above $120 must stay trapped for a year or two.”

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    He affirmed that “returning to those levels anytime soon doesn’t make sense,” as the cryptocurrencies are in their markdown period.

    In an X post, he emphasized the market cycle phases, pointing out that the accumulation phase occurred between 2022 and 2023, while the distribution phase occurred between 2024 and the start of 2026. Based on this, the analyst’s chart shows that SOL could potentially find a bottom around the $40 area.

    As of this writing, Solana is trading at $84.17, a 2.5% decline in the weekly timeframe

    soalna, sol, solusdt
    SOL’s performance in the one-week chart. Source: SOLUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Solana (SOL) Keeps $100 Alive, Recovery Push Faces First Test

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    Solana failed to settle above $112 and extended losses. SOL price is now recovering above $102 but faces many hurdles near $108 and $110.

    • SOL price started a decent recovery wave above $100 and $102 against the US Dollar.
    • The price is now trading below $110 and the 100-hourly simple moving average.
    • There is a key bearish trend line forming with resistance at $108 on the hourly chart of the SOL/USD pair (data source from Kraken).
    • The price could continue to move up if it clears $108 and $110.

    Solana Price Faces Resistance

    Solana price remained stable and started a decent recovery wave from $95, like Bitcoin and Ethereum. SOL was able to climb above the $100 level.

    There was a move above the 23.6% Fib retracement level of the downward move from the $119 swing high to the $95.81 low. However, the bears are active below $110. There is also a key bearish trend line forming with resistance at $108 on the hourly chart of the SOL/USD pair.

    Solana is now trading below $105 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $108 level, the trend line, and the 50% Fib retracement level of the downward move from the $119 swing high to the $95.81 low.

    The next major resistance is near the $110 level. The main resistance could be $115. A successful close above the $115 resistance zone could set the pace for another steady increase. The next key resistance is $122. Any more gains might send the price toward the $125 level.

    Another Decline In SOL?

    If SOL fails to rise above the $108 resistance, it could continue to move down. Initial support on the downside is near the $101 zone. The first major support is near the $95 level.

    A break below the $95 level might send the price toward the $88 support zone. If there is a close below the $88 support, the price could decline toward the $80 zone in the near term.

    Technical Indicators

    Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

    Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

    Major Support Levels – $101 and $95.

    Major Resistance Levels – $108 and $115.

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    Aayush Jindal

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  • Solana Pauses After 20% Drop — This Key Level Could Decide What’s Next

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    Solana has taken a breather after a sharp 20% sell-off, with the price now stabilizing at a technically significant zone. As volatility cools and consolidation sets in, the market is watching closely to see whether this level acts as a launchpad for a recovery or opens the door to further downside. The next move from here could define SOL’s short-term direction.

    VAH Rejection Sends SOL Back Into Range

    Market expert Umair Crypto explained that Solana’s rejection at the Value Area High (VAH) near $141 set the tone for the recent move. After briefly extending to $148, SOL once again failed to flip the psychological $150 level into support, and ultimately triggered a sharp downside reaction, resulting in a nearly 20% decline toward the $117 area.

    Following the sell-off, price rotated back into the same two-month consolidation range, suggesting that the move lower was more of a range continuation than the start of a new trend. SOL is now retesting the Value Area Low flip zone around $128, a level that has repeatedly acted as a short-term pivot between buyers and sellers.

    If $128 holds and buyers manage to defend this zone, the analyst sees room for a bounce toward $132. Further acceptance above that level could open a path toward the range Point of Control near $138. However, even a move into that region would still reflect range-bound conditions rather than a confirmed bullish breakout.

    Umair Crypto stressed that SOL remains stuck inside a broad $30 range, offering little directional edge in the middle. An acceptance below $120 would shift the bias firmly bearish. On the other hand, a strong reclaim above $150 would flip the market structure bullish. Until either scenario plays out, the higher-probability outcome continues to lean toward lower prices within the range.

    SOL Enters A Compression Phase Above Key Support

    According to a recent market update from BitGuru, Solana has experienced a significant pullback and is now entering a phase of consolidation just above a critical support zone. This type of price compression is a classic technical indicator that the market is preparing for a sharp reaction move.

    As volatility narrows and the trading range tightens, the build-up of market energy typically precedes a breakout. The path forward remains binary based on Solana’s interaction with its immediate boundaries. 

    A clean reclaim of the nearby resistance level would signal a return of buyer confidence and a potential shift in momentum. Conversely, a failure to defend this established base would keep significant downside risk active, potentially leading to a deeper correction if the support zone is breached.

    Solana

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    Godspower Owie

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  • Solana Mobile’s Long-Awaited SKR Token Goes Live

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    Seeker users get 90 days to claim SKR before unclaimed tokens return to Solana Mobile’s airdrop pool after the April deadline.

    Solana Mobile has finally launched the much-anticipated SKR, the native token of its Seeker smartphone ecosystem. The distribution went live on Tuesday at 9:00 pm ET.

    It allows eligible Seeker users to claim and optionally stake their allocations through the Seed Vault Wallet’s Activity Tracking tab, with a small SOL balance required to complete the transaction.

    SKR Arrives on Solana

    Users have a 90-day window to claim, after which unclaimed tokens will be returned to the airdrop pool following April 20. Developers who shipped qualifying applications to the Solana dApp Store during Seeker Season 1 are also eligible to claim allocations via the Publishing Portal.

    The announcement read,

    “Seeker and SKR are a bet that there’s another way for mobile: that the people who use the network should own the network. Today, over 100,000 of you can claim your stake in that future.”

    SKR is issued as an SPL token on Solana and supports Seeker, Solana Mobile’s second-generation Web3 device platform, which is positioned as a successor to the earlier Saga phone.

    Tokenomics

    The token has a fixed total supply of 10 billion. 30% have been allocated to airdrops for users and developers, 25% set aside for ecosystem growth and partnerships, and 10% reserved for liquidity and launch-related needs.

    A further 10% is designated for a community treasury, while Solana Mobile and Solana Labs receive 15% and 10%, respectively. Solana Mobile determined which users would receive SKR based on verified activity recorded from their Seeker devices and apps.

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    SKR is designed to support governance and staking within the ecosystem. It will enable holders to delegate tokens, earn rewards, and participate in decisions related to platform economics and initiatives. The token’s official website revealed that it employs a linear inflation model, starting at 10% in the first year and declining annually by 25% until stabilizing at a terminal rate of 2%, as Seeker Season 2 begins with expanded apps, rewards, and activity tracking.

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    Chayanika Deka

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  • Solana Structure Suggests One Final Test Before Bulls Can Step In

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    Solana’s price action is sending a clear message: the correction may not be finished yet. While buyers continue to show up at key levels, the broader structure still points to the possibility of one final downside test before a sustainable move higher can take shape. 

    Wave IV Still Unfinished As C-Wave Pressure Persists

    Crypto analyst More Crypto Online, in a recent update, explained that Solana’s chart structure still points to the possibility of another downside move before the ongoing correction is fully completed. Within the orange scenario, price action continues to align with a C-wave decline in a broader wave IV correction, keeping the corrective outlook valid as long as the structure remains non-impulsive.

    Even when viewed through the alternative white scenario, the current pullback can still be classified as an A-wave, which leaves room for another low before a B-wave recovery begins or before a potential fifth wave to the upside develops. In both interpretations, the analyst noted that the correction may not yet be finished.

    From a short-term perspective, the chart suggests that Solana could drift lower into the $81 to $90 region. Currently, there are no clear structural signals indicating an immediate bullish continuation, as the absence of impulsive upside movement keeps downside scenarios firmly in play.

    However, if prices were to turn higher from current levels without setting a new low, the broader structure since January 2025 would start to resemble a triangular consolidation rather than a completed wave IV. This alternative setup would imply extended sideways movement instead of a rapid trend resumption. Until stronger upside momentum appears, the focus remains on the risk of one more corrective low.

    Controlled Reaction At The 50% Fibonacci Signals Solana Buyer Strength

    AltCoin Việt Nam stated that Solana’s current price action is showing a strong and reassuring reaction around the 50% Fibonacci level. Instead of breaking down aggressively, the price has been rebounding in a controlled manner, suggesting that buyers are still maintaining influence. From a wave-structure perspective, wave IV does not appear to be rushing toward completion, leaving room for wave C to extend further if the market continues to move in line with the broader rhythm.

    Adding to the bullish bias is the ongoing ETF narrative surrounding Solana. Spot SOL inflows are not arriving in a FOMO-driven manner, but rather through steady accumulation across several sessions. This type of capital flow often reflects longer-term positioning rather than short-term speculation, which explains why the price tends to rebound quickly whenever it revisits key support zones.

    That said, the outlook is not without invalidation. A sustained move below the 50% Fibonacci level would signal that the current structure has broken down. However, the analyst views the recent pauses as temporary breathers within a broader upward structure, rather than the beginning of a meaningful downtrend.

    Solana

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    Godspower Owie

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  • Pump.fun Leads as Solana App Revenue Hits $2.4B in 2025

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    Despite falling meme coin volumes in 2025, Solana revealed Pump.fun and launchpads generated massive revenue.

    Solana-based meme coin launchpad, Pump.fun, emerged as one of the ecosystem’s top revenue-generating applications.

    Pump.fun was listed among seven Solana apps that generated more than $100 million in revenue during the year, as meme coin issuance and speculative trading remained a major activity driver on the network.

    Pump.fun Stole the Spotlight

    According to the latest findings by Solana, alongside Pump.fun, five other launchpads each recorded over $1 billion in volume in 2025. They collectively contributed to launchpad revenues doubling year-over-year to $762 million.

    Pump.fun also played an important role in rising token creation as launchpads collectively generated 11.6 million tokens, more than double the prior year. However, only a small fraction, about 0.89%, progressed beyond bonding curve launches. Despite meme coin trading volume declining 10% year-over-year to $482 billion, Solana noted that activity was still up roughly 80 times compared with two years earlier.

    Beyond Pump.fun, Solana reported that total app revenue across the network reached $2.39 billion in 2025. This figure was up 46% year over year and marked a new all-time high. In addition to Pump.fun, revenue leaders included Axiom Exchange, Meteora, Raydium, Jupiter, Photon, and Bullx, each generating more than $100 million.

    Apps on the network, earning under $100 million, collectively generated more than $500 million in revenue during the year. At the protocol level, Solana said network REV climbed to $1.4 billion, which was a 48-fold increase over the past two years, while average transaction fees continued to decline, and median fees fell to $0.0011.

    Solana’s broader network metrics pointed to rising usage and asset activity. The blockchain processed 33 billion non-vote transactions in 2025, and averaged 1,054 non-vote transactions per second. Meanwhile, daily active wallets averaged 3.2 million, up 50% year over year.

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    Stablecoin supply more than doubled to $14.8 billion, and $11.7 trillion in stablecoins were transferred over the year. Tokenized equities, on the other hand, debuted on the network with $1 billion in supply.

    DEXs, and ETFs

    Additionally, decentralized exchange volume reached $1.5 trillion, led by Raydium, Orca, and Meteora, while DEX aggregators such as Jupiter accounted for a growing share of trading activity.

    Staked SOL reached record highs in 2025, while Solana ETFs recorded $1.02 billion in net inflows amidst heightened institutional demand.

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  • Why Has The Solana Price Been In A Steady Downtrend Since January?

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    Solana’s price action this year has followed a clear but uncomfortable pattern. After pushing to a new all-time high around the $296 region in January, the rally quickly lost momentum and transitioned into a steady decline that has persisted for months. 

    Many traders have attributed this weakness to a risk-off sentiment across crypto, but a deeper on-chain breakdown shared by crypto analyst Ardi on X suggests the story began well before the January peak and has more to do with who was buying and who was quietly exiting.

    Distribution Was Already Underway Before The January Peak

    Solana has been on a clear downtrend since September, when it reached a lower high of around $247 compared to its January 19 all-time high of $293. One of the most important insights from Ardi’s analysis is that Solana’s January all-time high did not mark the start of distribution but rather the culmination of it. 

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    The chart attached to his post shows that selling volume was already increasing months earlier, well ahead of October, meaning that large holders were positioning for exits long before price reached its final peak. From that perspective, the January high looks less like the beginning of a new expansion phase and more like the last push of a rally. 

    Source: Chart from Ardi on X

    After that point, price action began forming lower highs, and each rebound attempt lacked the strength needed to reclaim the all-time high. Interestingly, Solana failed to reach a new all-time high, even as other large market cap cryptos like Bitcoin, Ethereum, XRP, and BNB pushed to new all-time highs during the year.

    Another interesting feature of the data is the widening gap between retail behavior and that of larger players. Cumulative delta metrics on the chart show that retail-sized wallets have been consistently active throughout the year and are increasing their activity even as Solana’s price moved lower.

    On the other hand, mid-sized and institutional wallets tell a very different story. Their activity has been trending downward for months, starting from the January peak and extending up until the time of writing.

    Is Solana’s Price Becoming Dependent On Memecoin Activity?

    Ardi’s analysis also raises a broader question about what is currently driving demand for Solana. Outside of retail activity on Solana itself, one of the few consistent sources of activity has been the memecoin sector. Successes and booms of meme coins like Cat in a Dogs World (MEW), Peanut the Squirrel (PNUT), and Fartcoin (FARTCOIN), which gained traction in the second half of 2024, contributed to Solana’s push to all-time highs during those periods.

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    Those meme coin successes culminated with the launch of the Official Trump ($TRUMP) token in January 2025 on Solana, which experienced eye-watering gains shortly after its launch. This, in turn, contributed to Solana’s all-time high in January. 

    However, since then, the TRUMP token and other Solana-based meme coins have been trending downwards in recent months and no longer command the same level of attention or trading intensity they had this time last year. That has led to the view that Solana’s price is increasingly sensitive to the success of memecoins in its ecosystem. 

    At the time of writing, Solana is trading at $121.50, down by about 58.6% from its January all-time high of $293.

    Solana
    SOL trading at $121 on the 1D chart | Source: SOLUSDT on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

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    Scott Matherson

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  • Solana Enters A Low-Interest Phase After November 2024 All-Time High — Here’s Why

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    The story of Solana has shifted from a meteoric rise to a high-stakes battle for relevance. After reaching a historic all-time high in November 2024, the network has struggled to reclaim its former momentum. This loss of momentum reflects technical exhaustion and a market recalibration after an aggressive run-up. Thus, SOL has entered a new phase as investors assess whether fresh demand can emerge or if the network needs a new catalyst to reassert leadership.

    How Solana Momentum Fades After The November Peak

    Crypto trader Ardi has revealed on X that market interest has noticeably thinned ever since Solana set its $296 all-time high in November 2024. On-chain data has shown that buying pressure has been dominated almost by the retail-sized wallets, particularly those making purchases between $0 and $1,000.

    Ardi argues that while many observers point to micro conditions to explain the stalled price action, the tape reveals that the distribution has begun before the peak. The selling volume had already been accelerating for months before October 10, signaling that major players were planning their exits long before the drawdown. The data also confirms a massive divergence between demographics.

    Meanwhile, the mid-sized wallets involving $0 to $100,000, and the institutional-sized wallets involving $100,000 to $10 million in volume have been in a steady downtrend for roughly 13 months. Over the same period, retail wallets have shown a consistent uptrend, and are clearly convinced that SOL is still trading at a deep discount price. 

    This imbalance leads to the ultimate question: Is Solana’s value now intrinsically tied to memecoins? The correlation between SOL’s demand and the memecoin actively on the network has been near-perfect, which means that without the frenzy of the meme sector, most bids would largely be disinterested.

    What Comes After Memes Will Decide Solana’s Future

    An investor and trader, Jas pointed out that 2025 has definitely been a reset for Solana, but it isn’t over for the altcoin. SOL active monthly traders have fallen from roughly 30 million to under 1 million, a staggering 97% drop in network activity. The speculative engine was the memecoin boom that fueled its rise and also exposed its biggest vulnerability.

    Furthermore, SOL is down nearly 58% from its yearly high. SOL’s network revenue dropped fivefold year-over-year from $2.5 billion in 2024 to $500 million in 2025. The contrast with Ethereum is hard to ignore, and ETH generated $1.4 billion in revenue this year and outperformed SOL by 56% year-to-date. “SOL’s future may depend less on memes and more on what follows them,” Jas noted.

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    Godspower Owie

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  • $2,500 Solana? Scaramucci Says The Setup Is Already In Motion

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    SkyBridge Capital founder Anthony Scaramucci said he still sees a path to Solana reaching $2,500 over a five-to-ten-year horizon, arguing that tokenization plus clearer US regulation could turn Solana into a core financial “rail system.”

    Scaramucci made the remarks in an interview with SolanaFloor filmed during last week’s Solana Breakpoint conference and released on Dec. 18.

    Why Solana Is Still Poised For $2,500

    Scaramucci framed the $2,500 thesis as a long-duration bet that won’t play out cleanly. “It’s not going to come without… volatility,” he said, pointing to what he called a messy US regulatory year and sticky inflation as headwinds that “probably slowed down our trajectory.”

    “If you had asked me at the beginning of the year” whether Washington would pass stablecoin legislation and “the market structure, the CLARITY bill,” he said he would have expected both. “That did not happen.” Still, he argued “the timing is still right,” with the caveat that price will likely remain jumpy until those macro and regulatory variables resolve.

    Related Reading

    To explain the patience required, Scaramucci leaned on a tech-investing analogy, recalling Amazon’s drawdowns by 90% before mass adoption. The lesson, in his words: stay with “great technology” through uncertain stretches because durable infrastructure eventually gets adopted.

    Asked what surprised him most this cycle, Scaramucci singled out the Trump and Melania memecoins. He described their Solana launch as “a compliment to Solana” because it was selected for “ability to handle large scale large volume transactions with great certainty and finality.”

    But he also argued the episode backfired on policy. “I think those coins slowed down the regulatory process in the US,” he said, suggesting that the optics of a US president entering the memecoin business created a political “foil” that opponents could use to resist crypto bills. “I think we would have gotten everything that we wanted this year had the president sort of stayed out of the meme coin business,” he added, calling it “short-term regulatory” damage.

    He also claimed the memecoin surge “sucked out all the liquidity from a lot of the altcoins,” which he said “hurt the industry,” even as it showcased Solana’s throughput.

    Tokenization Is The Endgame

    Scaramucci’s core argument was simple: tokenization is coming, and Solana is positioned to host a meaningful share of it. He said Paul Atkins, whom he described as a longtime personal friend, delivered what Scaramucci considers an underappreciated prediction: “In 5 years all of our assets are going to be tokenized.” Scaramucci then pushed his own conclusion: “What’s going to be the number one rail system to tokenize on? It’s going to be Solana.”

    He argued superior systems tend to win through adoption, not ideology. “If you have something that works better than something else, it gets adopted,” he said, comparing Solana’s trajectory to the internet’s jump from dial-up to today’s high-bandwidth reality.

    He also flagged operational progress on the network. “I don’t want to jinx us,” he said, but suggested Solana had gone “two years now without any” downtime.

    Related Reading

    SolanaFloor challenged Scaramucci on why SkyBridge tokenized a $300 million fund on another chain. Scaramucci said it was “a very small fund,” and that a larger fund “will likely get tokenized on Solana.” He also rejected maximalism: “I don’t believe in chain monogamy,” he said.

    His view is that “three or four chains” will win, naming Solana and Avalanche. He argued Avalanche can be attractive for certain compliance-driven deployments, while Solana is where “stocks and bonds are going to be tokenized” and where “the larger funds are going to be tokenized.”

    Scaramucci also disclosed his personal positioning: “My largest personal position even greater than Bitcoin is my position in Solana and I have it all staked,” he said, adding he owns Avalanche and Bitcoin and holds a “very small position” in Ethereum.

    Scaramucci tied the next leg of the cycle to US policy and liquidity. If the US passes market-structure rules next year, he said, prices should respond. If inflation cools and the Fed can cut more aggressively under a new chair, he argued that would add liquidity and reinforce a “positive flywheel.”

    At press time, SOL traded at $125.

    Solana trades between key trend line and the 200-week EMA, 1-week chart | Source: SOLUSDT on TradingView.com

    Featured image created with DALL.E, chart from TradingView.com

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    Jake Simmons

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  • Solana Reclaims Crucial Resistance Despite First SOL ETF Outflows – 25% Rally Ahead?

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    As the crypto market rebounds from the recent lows, Solana (SOL) has reclaimed a crucial level, nearing a key resistance area that could set the stage for a long-awaited price recovery rally, according to some market watchers.

    Related Reading

    Solana Bounces Despite ETF Outflows

    The crypto market has surged above the $3 trillion mark for the first time in a week, with Bitcoin, Ethereum, and most leading cryptocurrencies reclaiming crucial support levels lost during the latest market pullback.

    Solana joined the market rally and jumped from the recently recovered $135-$140 area to the upper zone of its local range on Wednesday afternoon. Notably, the altcoin has been trading between the $130-$145 price range over the past two weeks, briefly losing the lower boundary during last week’s correction.

    This week, SOL’s price has reclaimed some crucial ground, surging over 10% since Monday’s opening and nearing the $145 resistance. Amid this performance, analyst Ted Pillows noted institutional participation, as SOL treasury companies have started to show early signs of recovery.

    He also highlighted that Solana Exchange-Traded Funds (ETFs) have experienced record inflows this month despite the correction. According to Farside Investors’ data, the SOL-based investment products have registered $613 million in inflows since their launch on October 28.

    It’s worth noting that throughout the recent pullbacks, Solana funds have seen a strong demand, with a 22-day positive streak while the altcoin’s price descended to multi-month lows.

    However, as its price recovered, SOL’s ETFs registered their first negative in nearly a month. 21Shares’ TSOL, which launched a week ago, saw $34 million in outflows on Wednesday, outshining the over $13 million and $10 million in inflows of Bitwise’s BSOL and Grayscale’s GSOL. As a result, the whole category recorded net outflows of $8.1 million.

    In his analysis, Ted Pillows also noted that “It seems like SOL has bottomed for a while, but institutional buying needs to accelerate here. Otherwise, it won’t take long for Solana to make new lows.”

    SOL Ready For December Recovery?

    Analyst Ali Martinez suggested that Solana’s pain might be over as its price “usually bottoms when investors capitulate… And for the past two weeks, that’s exactly what’s been happening.”

    According to the chart, SOL’s price has historically found a floor when the Net Unrealized Profit/Loss (NUPL) indicator reaches the capitulation zone, which it has recently fallen to. Meanwhile, Crypto Patel highlighted that Solana is breaking out of a one-month downtrend, which could trigger a 25% recovery rally near the key $180 barrier in the coming weeks.

    Another market observer warned that the altcoin is “walking straight into the lion’s den” as its price nears the $144-$146 resistance levels. Trader Mr. Ape noted that Solana’s price has been rejected three times from this heavy supply area, and momentum “is slowing again as we hit the zone.”

    Related Reading

    To the trader, this is the crucial level to watch, as another rejection could send the price to the $132 support, where strong demand lies from the previous bounce. On the contrary, a successful breakout from this level and reclaiming it as support could confirm the shift and trigger a surge to the $157 area.

    As of this writing, Solana is trading at $142, a 7.7% increase on the weekly timeframe.

    SOL’s performance on the one-week chart. Source: SOLUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Solana (SOL) Recovery Underway But Momentum Still Needs Stronger Follow-Through

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    Solana started a recovery wave above the $125 zone. SOL price is now consolidating and faces hurdles near the $135 zone.

    • SOL price started a decent recovery wave above $125 and $128 against the US Dollar.
    • The price is now trading above $130 and the 100-hourly simple moving average.
    • There is a bullish trend line forming with support at $130 on the hourly chart of the SOL/USD pair (data source from Kraken).
    • The price could continue to move up if it clears $135 and $140.

    Solana Price Aims Recovery

    Solana price remained stable and started a decent recovery wave above $125, like Bitcoin and Ethereum. SOL was able to climb above the $130 level.

    There was a move toward the 50% Fib retracement level of the downward move from the $145 swing high to the $121 low. Besides, there is a bullish trend line forming with support at $130 on the hourly chart of the SOL/USD pair.

    Solana is now trading above $130 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $135 level or the 61.8% Fib retracement level of the downward move from the $145 swing high to the $121 low.

    The next major resistance is near the $140 level. The main resistance could be $145. A successful close above the $145 resistance zone could set the pace for another steady increase. The next key resistance is $155. Any more gains might send the price toward the $162 level.

    Another Drop In SOL?

    If SOL fails to rise above the $135 resistance, it could continue to move down. Initial support on the downside is near the $130 zone. The first major support is near the $127 level.

    A break below the $127 level might send the price toward the $124 support zone. If there is a close below the $124 support, the price could decline toward the $120 zone in the near term.

    Technical Indicators

    Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

    Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

    Major Support Levels – $130 and $124.

    Major Resistance Levels – $135 and $140.

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    Aayush Jindal

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  • Solana Core Evolution: Here’s The Underrated Impact Of The BIT Narrative

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    My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

    My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

    I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

    When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

    Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

    My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

    Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.

    One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.

    I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.

    I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

    I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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    Godspower Owie

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  • Weakness In Major Cryptos: What Key Technical Metrics Indicate For Bitcoin, Ethereum, And Solana

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    Despite a slight recovery in cryptocurrency prices on Wednesday, experts remain divided on the future direction of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). The market is at a crossroads, with some analysts anticipating a deeper correction, while others see the potential for a renewed recovery.

    iShares Bitcoin Trust ETF Hits 52-Week Low 

    According to a report from Barron’s, all three cryptocurrencies have attracted attention from major exchange-traded fund (ETF) issuers and President Trump’s administration, spurring hopes that increased institutional adoption could help stabilize volatility. 

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    The iShares Bitcoin Trust ETF is currently trading more than 20% below its recent 52-week high, which was reached less than a month ago. This peak coincided with the formation of a bearish evening star pattern, and the ETF experienced a notable decline of 3% on October 7. 

    The drop below the $70 mark has added to the bearish sentiment, with the ETF declining in three of the last four weeks, closing within the lower half of its trading range. 

    This week alone has seen an 8% drop, and the ETF recently undercut its 200-day simple moving average, marking a steep 5.5% decline—the largest single-day drop since April 7. 

    For investors to regain confidence, analysts assert that it is crucial for the ETF to hold near current levels and reclaim the 21-day exponential moving average (EMA), a key indicator of bullish momentum. Historically, recoveries have taken about six sessions, as seen back in April.

    Ethereum ETF Faces 17% Weekly Decline

    Ethereum, represented through the Grayscale Ethereum Trust ETF, has experienced a more pronounced decline, now down 34% from its annual peak and showing a negative year-to-date performance of 5%. This week alone, the ETF has dropped 17%, roughly double the decline seen in the Bitcoin Trust ETF. 

    However, the sharp pullback follows a significant increase of over 220% from early April to late August, making the current retreat appear both prudent and necessary. 

    Notably, the fund has not yet pierced its 200-day simple moving average, having touched it recently while retesting a breakout above a bullish inverse head-and-shoulders pattern. 

    The behavior of the ETF around this critical moving average in the coming week will be crucial; if stability can be achieved, it may present an attractive buying opportunity. After facing resistance at the $40 level on August 22, recent price action could be forming a double-bottom base, provided that the recent lows hold.

    Heightened Concerns For Solana

    Solana’s performance has been the most concerning, with its ETF plummeting 41% from its most recent 52-week high set in September. This heightened volatility may reflect the asset’s relative newness, as it began trading only in April. 

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    The Solana ETF peaked on September 18 and has since formed a bearish island reversal pattern. Over the past seven weeks, it has fallen in five of those, with three weeks recording double-digit declines. 

    This week alone, the ETF has dropped another 19% through just two trading sessions. On the daily chart, a break below the bearish head-and-shoulders pivot at $19 raises concerns of a potential measured move down to $12.

    Ultimately, the report suggests that a potential recovery for the trio would imply further inflows into these exchange-traded funds. This would also indicate a new wave of bullish sentiment returning to the market. 

    The daily chart shows BTC’s increased volatility seen over the past month. Source: BTCUSDT on TradingView.com

    At the time of writing, Bitcoin is trading at $104,190, marking a 3% surge over the past 24 hours. During the same time frame, ETH and SOL also recorded gains of 5% and 4%, respectively. 

    Featured image from DALL-E, chart from TradingView.com 

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    Ronaldo Marquez

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  • Solana Just Booked Its Second-Biggest Week in History Despite Choppy Market

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    Fed hawkishness froze the market, leading to institutions dumping Bitcoin last week, yet Solana funds ballooned.

    Digital asset investment products recorded outflows of $360 million last week despite the market recently digesting yet another US interest rate cut. The selling pressure wasn’t driven by the rate cut itself, but by how investors read Fed Chair Jerome Powell’s language at the post-FOMC press conference.

    Powell made it clear that another cut in December is “not a foregone conclusion,” a surprisingly hawkish communication that appears to have knocked sentiment across the market, especially in the absence of any high-impact US macro data releases that could have helped traders re-anchor expectations.

    Doubling Down On Solana Exposure

    But while the overall flow number skewed negative, Solana emerged as the standout winner yet again after pulling in $421 million in inflows last week. This is the second-largest weekly figure on record, powered largely by inflows into the new US ETFs, which brought Solana’s year-to-date total to $3.3 billion, according to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report.

    Ethereum also saw net inflows of $57.6 million, though the daily flow pattern still shows mixed conviction among investors. XRP came in next with $43.2 million, followed by Sui at $9.4 million, Litecoin at $1.5 million, Cardano at $0.7 million, and Chainlink at $0.5 million. Multi-asset ETPs added another $8.3 million.

    But the drag came from Bitcoin. US Bitcoin ETFs saw a massive $946 million in outflows.

    The United States remained the epicenter of last week’s fund pessimism, as $439 million exited from American-listed investment vehicles. Sweden added another $11 million in outflows during the same period. n. This weakness was partly counterbalanced by other regions. For instance, Germany welcomed $32 million while Switzerland saw $30.8 million.

    Canada, Australia, and Brazil managed smaller but positive totals of $8.5 million, $7.2 million, and $1.3 million.

    You may also like:

    $100K Bitcoin’s “Make-or-Break” Moment

    November has been choppy for the market, and there appears to be no signs of relief. Bitcoin has now spent 180 days above the $100,000 threshold, without a single daily close below it. Swissblock describes this zone as a structural floor and not just a psychological level, but an area built on heavy volume and high confluence. And that sets up November with a sharply asymmetric setup.

    If the crypto asset can continue defending this region, the bullish structure effectively resets, which is expected to give the market room for another upside leg. However, if this floor finally gives way, the analytics firm warned that the chart has very little support underneath.

    SPECIAL OFFER (Exclusive)

    SECRET PARTNERSHIP BONUS for CryptoPotato readers: Use this link to register and unlock $1,500 in exclusive BingX Exchange rewards (limited time offer).

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    Chayanika Deka

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  • Solana (SOL) Decline Intensifies — Bears Tighten Grip, Recovery Looks Unlikely

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    Solana started a fresh decline below the $180 zone. SOL price is now consolidating losses below $175 and might decline further below $165.

    • SOL price started a fresh decline below $180 and $175 against the US Dollar.
    • The price is now trading below $175 and the 100-hourly simple moving average.
    • There is a key bearish trend line forming with resistance at $191 on the hourly chart of the SOL/USD pair (data source from Kraken).
    • The price could start a recovery wave if the bulls defend $165 or $162.

    Solana Price Dips Further

    Solana price failed to remain stable above $185 and started a fresh decline, like Bitcoin and Ethereum. SOL declined below the $182 and $180 support levels.

    The price gained bearish momentum below $175. A low was formed at $163, and the price is now consolidating losses with a bearish angle below the 23.6% Fib retracement level of the downward move from the $188 swing high to the $163 low.

    Solana is now trading below $175 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $170 level. The next major resistance is near the $175 level or the 50% Fib retracement level of the downward move from the $188 swing high to the $163 low.

    The main resistance could be $182. A successful close above the $182 resistance zone could set the pace for another steady increase. The next key resistance is $190. There is also a key bearish trend line forming with resistance at $191 on the hourly chart of the SOL/USD pair. Any more gains might send the price toward the $200 level.

    Another Decline In SOL?

    If SOL fails to rise above the $175 resistance, it could continue to move down. Initial support on the downside is near the $165 zone. The first major support is near the $162 level.

    A break below the $162 level might send the price toward the $154 support zone. If there is a close below the $154 support, the price could decline toward the $150 support in the near term.

    Technical Indicators

    Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone.

    Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level.

    Major Support Levels – $165 and $162.

    Major Resistance Levels – $175 and $182.

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    Aayush Jindal

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  • Solana Price Drops Below $180 Despite $199M ETF Inflows, What’s Behind the Decline?

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    Solana (SOL) has slipped below the critical $180 mark even as institutional inflows into newly launched Solana exchange-traded funds (ETFs) reached nearly $199 million in just one week.

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    The Solana price is hovering around $175, marking a 6.4% daily decline and extending a week-long correction that has erased almost 12% of its value. Despite ETFs managed by Bitwise, Grayscale, and 21Shares pushing total assets past $500 million, the influx of institutional capital has yet to stabilize prices.

    Analysts attribute the weakness to a broader risk-off sentiment across global markets. Although President Trump recently announced a lower tariff imposition, crypto investors remain skeptical, fearing another policy reversal that could trigger a sharp market downturn.

    SOL's price trends to the downside on the daily chart. Source: SOLUSD on Tradingview

    Strong Fundamentals Overshadowed by Macroeconomic Fears

    While the macro instabilities weigh heavily on the Solana price action, SOL’s underlying fundamentals remain strong.

    The blockchain recently reported annualized revenue of $2.85 billion, growing nearly 30 times faster than Ethereum’s early-stage performance. The network continues to attract developers and corporate partners, including Western Union, which is building a stablecoin on Solana to power global remittances.

    However, short-term traders remain cautious. Technical indicators reveal that the Solana price is consolidating below major moving averages, with key support around $172 and resistance between $188 and $192.

    The RSI sits near 41, signaling that the asset is approaching oversold levels, while the MACD divergence suggests waning selling pressure. Still, a sustained rebound remains uncertain without a broader recovery in risk appetite.

    Bulls Eye $200 in Solana Price as Macro Clouds Clear

    For now, Solana’s near-term outlook remains bearish-to-neutral. A decisive break below the $172 support could open the door to deeper declines toward $157 or even $142, zones that previously attracted strong buying during October’s correction.

    Conversely, defending the 200-day moving average at $179.78 and reclaiming $189–$200 could restore short-term bullish momentum.

    Related Reading

    Despite near-term volatility, analysts like Lark Davis maintain that Solana is “winning” against Ethereum in speed, scalability, and user growth. Long-term investors remain confident that institutional inflows, coupled with Solana’s expanding ecosystem, will eventually reflect in the Solana price action once global markets stabilize.

    Cover image from ChatGPT, SOLUSD chart from Tradingview

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    James Halver

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  • Solana (SOL) Nosedives — Sellers Tighten Grip, Recovery Attempts Fail

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    Solana started a fresh decline from the $188 zone. SOL price is now consolidating losses below $180 and might decline further below $175.

    • SOL price started a fresh decline below $185 and $180 against the US Dollar.
    • The price is now trading below $182 and the 100-hourly simple moving average.
    • There is a key bearish trend line forming with resistance at $192 on the hourly chart of the SOL/USD pair (data source from Kraken).
    • The price could start another increase if the bulls defend $175 or $172.

    Solana Price Dips Again

    Solana price extended gains above $180 and $182, like Bitcoin and Ethereum. SOL even surpassed $188 before the bears appeared. A high was formed near $189 and the price dropped.

    There was a move below $185 and $180. A low was formed at $176, and the price is now consolidating losses with a bearish angle below the 23.6% Fib retracement level of the downward move from the $188 swing high to the $176 low. Besides, there is a key bearish trend line forming with resistance at $192 on the hourly chart of the SOL/USD pair.

    Solana is now trading below $185 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $182 level or the 50% Fib retracement level of the downward move from the $188 swing high to the $176 low.

    The next major resistance is near the $185 level. The main resistance could be $188. A successful close above the $188 resistance zone could set the pace for another steady increase. The next key resistance is $192 and the trend line. Any more gains might send the price toward the $200 level.

    Downside Continuation In SOL?

    If SOL fails to rise above the $188 resistance, it could continue to move down. Initial support on the downside is near the $175 zone. The first major support is near the $172 level.

    A break below the $172 level might send the price toward the $165 support zone. If there is a close below the $165 support, the price could decline toward the $150 support in the near term.

    Technical Indicators

    Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone.

    Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level.

    Major Support Levels – $175 and $172.

    Major Resistance Levels – $188 and $192.

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    Aayush Jindal

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