Solana (SOL) Market Update – Short Analysis

As of now, Solana (SOL) is trading at $147.49, showing a 3.41% decline over the last 24 hours. The 4-hour chart from Binance reflects a recent downward trend, with SOL hitting a 24-hour low of $141.53 and a high of $154.41.

Despite the recent dip, SOL has shown some recovery after touching its local low, indicating possible buying interest around the $141 support zone. The current volume suggests active trading, with 24-hour volume reaching 3.85 million SOL and $568 million USDT.

Short-term indicators like the 5-period and 10-period moving averages (MA) are converging, which could hint at a potential trend reversal or consolidation phase.

Investors should monitor support levels near $141 and resistance near $154–$156. A break above resistance could lead to a short-term bullish move, while a fall below support may continue the bearish pressure.

Note: As always, conduct your own research (DYOR) and consider risk management before making any trading decisions.