SOL Token Holds Strong Above $158 Amid $5.1B Volume and ETF Optimism Despite 3.2% Dip

Solana (SOLUSDT) is currently trading at $159.35 on Binance, reflecting a 3.20% decline over the last 24 hours from a 24h open of $164.62. The recent price pullback follows a brief rally earlier in the week, which was driven by renewed optimism around potential SEC approval of a Solana spot ETF—supported by filings from major institutions and high expectations among analysts and traders. However, the latest dip can be attributed to profit-taking after the rally, increased short-term volatility, and resistance at the $161 level, despite ongoing positive sentiment regarding Solana’s ecosystem growth and upcoming Layer 2 upgrades. The market remains highly liquid, with 24-hour trading volume exceeding $5.1 billion and Solana holding the #6 spot by market capitalization, while technical indicators suggest continued volatility but a structurally bullish outlook above $158.