Current Situation
$SOL SOL recently broke below key support around $150, sliding toward the $140 area.
Technical indicators are strongly bearish: moving averages (MA5, MA20, MA50, MA100, MA200) all show “sell”, RSI ~30, MACD negative.
On the fundamental/inflow side: while institutional ETFs tied to Solana show inflows, broader institutional and retail demand is softening; derivatives open interest is falling, funding rates turning negative.
Correlation with Bitcoin remains very high (~0.97) meaning Solana’s fate is still very tied to bitcoin’s moves.
📉 Outlook & Key Levels
Immediate risk: If $140 fails, next support zone lies around $130–$125
Potential rebound scenario: A recovery above ~$155–$160 could open a bounce toward ~$170–$175. But that’s contingent on improved sentiment and bitcoin strength.
Sentiment caveat: Market fear is elevated (Fear & Greed index near extreme fear), liquidity is tight, so upside is harder for now.
✅ Summary
In short: Solana is in a bearish phase in the near term. Technical signals are weak, and despite long‐term upside potential (ecosystem growth, institutional interest) the current environment suggests caution. If you’re looking to enter, waiting for signs of stabilization (bounce off support, improved volume, positive divergence) may reduce risk.
