$SOL is trading around ≈ $150–$155 USD.
Technical indicators show a bearish tilt: Daily RSI ~34 and multiple moving averages signalling “Sell”.
Key support near $165 USD recently broke, suggesting increased downside risk.
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🔍 What’s happening
The token’s performance is strongly tied to Bitcoin (BTC) with a correlation ~0.97 — meaning when Bitcoin weakens, SOL tends to follow.
At the same time, SOL is seeing institutional inflows and ETF interest, which is a bullish backing beneath the surface.
Despite that, the technical picture remains cautious: support break and weak momentum indicators mean the market may be waiting for a catalyst.
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🎯 What to watch
Support levels: If $SOL
fails to regain $165 USD quickly, next major support zones are maybe around $146–$150 USD.
Upside potential: If institutional interest builds and macro conditions turn favorable, targets in the ~$200 USD range are being floated.
Macro & BTC direction: Since Solana tracks Bitcoin closely, movement in BTC and broad risk sentiment will heavily influence SOL’s next move.
✅ Bottom Line
Solana is in a wait-and-see mode: institutional backing is strengthening, but the technicals are currently weak and the token is exposed to broader crypto market risks. For now, it might be a good time for cautious monitoring rather than aggressive entry — unless you’re comfortable with potential further weakness.
As always with crypto: high risk, high volatility — so stay alert and manage position size accordingly.$SOL
