SOL Token Faces 2% Dip Amid Market Volatility, Strong Fundamentals and ETF Inflows Support Outlook

Solana (SOLUSDT) experienced a 2.05% price decline over the past 24 hours, with the current price at $160.56 on Binance, opening at $163.92. The price decrease is primarily attributed to short-term market volatility and technical resistance near the $168 level, as highlighted by recent analyses indicating a potential rejection at this resistance and a retest of the $160–$162 support zone. Despite strong network fundamentals, including a surge in active addresses, high transaction volume, and continued ecosystem growth such as the launch of soft staking and ETF inflows, the market has seen reduced trading volume and signs of potential exhaustion, contributing to the current price consolidation.

Solana remains the 6th largest cryptocurrency with a market capitalization between $84 billion and $88 billion, a circulating supply of approximately 536 million SOL, and robust 24-hour trading volumes ranging from $3.33 billion to $12.13 billion, reflecting sustained market interest despite recent price volatility.