SOL Under Pressure: Regulatory Probe & Token Sell-Off

Solana faces three overlapping risks: regulatory uncertainty in China, potential selling pressure from Pump.fun-related transfers, and a bearish technical structure.

Key signals:

Regulatory risk — High: Chinese banking authorities reportedly investigated unauthorized promotional activities in Shanghai. This could complicate regional expansion, although the direct impact on Solana remains uncertain.

Potential selling pressure — Medium: Pump.fun reportedly transferred 76,111 SOL to exchange-linked wallets. This may raise selling concerns, but transfers alone do not confirm that tokens were sold.

Bearish structure — Medium: SOL remains below EMA 25 at $90.86 and EMA 99 at $93.00. Short-term RSI recovery has not yet confirmed a trend reversal.

What to watch

The key technical test is whether SOL can reclaim EMA 25 and then challenge EMA 99.

A rejection below these averages would keep the bearish structure intact. A sustained move above both, supported by improving volume, would strengthen the recovery case.

Bottom line: Regulatory uncertainty and exchange-related transfers add risk, while the moving averages suggest sellers still have the technical advantage. Watch confirmation rather than treating wallet movements or an RSI bounce as a directional signal.

$SOL $PUMP $SUI