The SOL/USDT perpetual futures on Binance are currently trading at $170.85, marking a notable decline of 2.22% for the day. Over the last 24 hours, the price fluctuated between a high of $178.22 and a low of $170.13, with a trading volume of 15.62 million SOL, equivalent to $2.74 billion USDT. Technically, SOL is under pressure as it trades below all key moving averages: MA(7) at $174.47, MA(25) at $175.44, and MA(99) at $175.88, signaling sustained bearish momentum. The RSI (Relative Strength Index) is deeply oversold at 13.50, indicating a potential for a technical bounce in the short term. Despite today's drop of -3.12%, SOL has shown resilience on weekly and monthly scales, with gains of 3.45% over 7 days and 13.12% over 30 days. However, the asset is still down 29.73% over the past 180 days, reflecting a broader long-term downtrend, with a modest 3.11% gain over the past year.
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