SOL Token Faces 2.73% Dip Amid Profit-Taking, ETF Buzz, and DeFi Growth Milestones

Solana (SOLUSDT) is currently trading at $151.61 on Binance, reflecting a 2.73% decrease over the past 24 hours from an opening price of $155.86. The recent price decline can be attributed to short-term profit-taking following a period of strong bullish momentum and recovery earlier in the week, as well as broader market volatility despite positive news such as the proposed Fidelity spot Solana ETF and ongoing institutional interest. Technical indicators remain supportive, with high trading volume and positive capital inflows, but resistance near $157 and mixed price forecasts have contributed to cautious sentiment. Solana’s DeFi ecosystem continues to show robust growth, with over $1 trillion in trading volume and a total value locked above $12 billion, while upgrades like the Firedancer node and rising institutional activity in regions such as the Middle East support long-term fundamentals. Overall, SOL remains a focal point in the market with high liquidity and active trading, but short-term price action is currently influenced by profit-taking and resistance at key technical levels.