The SOLUSDT Perpetual Futures contract is currently trading at $169.25, showing a -4.38% decline in the last 24 hours. The mark price stands at $169.31, indicating close alignment with the latest trade price. Over the past 24 hours, SOL has experienced a high of $178.23 and a low of $166.55, with a total trading volume of approximately 25.56 million SOL, valued at around $4.38 billion USDT.From a technical perspective, the market trend remains bearish. The current price is sitting below all major moving averages: the 7-period MA at $169.16, 25-period MA at $171.63, and 99-period MA at $174.98, indicating continued downside momentum. Since reaching a recent local peak of $183.96, the price has consistently formed lower highs and lower lows.The Relative Strength Index (RSI 6) is currently at 42.43, suggesting neutral to weak momentum, without entering oversold territory. This implies there’s still room for either further decline or potential recovery depending on market sentiment.Volume activity has remained relatively elevated, with fluctuations suggesting mixed participation between buyers and sellers. Over different time frames, SOL has shown short-term recovery signs: +5.83% over 7 days and +30.58% over 30 days, but the broader trend remains negative with -16.02% over 90 days and -21.10% over the last 180 days. Over the past year, SOL remains slightly positive with a +10.61% gain.In summary, the SOLUSDT perpetual futures pair is under short-term bearish pressure, with technical resistance from major moving averages. However, RSI levels indicate that the market is not yet in oversold condition, suggesting further price swings are possible. Key support is currently at $166.55, and a break below this could trigger further selling pressure.

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