M Ali Warsi

Key TakeawaysSolana price drops 3.1% to $137.07, underperforming the broader crypto market’s 4.48% declineCrypto-wide sell-off accelerates losses, with $47M in SOL long and short liquidations in 24 hoursETF enthusiasm fades, as the new VanEck Solana ETF sees muted demand amid low staking rewards$47M Liquidated in SOL Long and Short PositionsMore than $1.01B in crypto liquidations was recorded over the past 24 hours, including $47.11M in SOL long and short positions.SOL’s 24h trading volume spiked 76% to $9.17B, a sign of intense panic-driven selling pressure.Source: CoinglassWith Solana’s high beta (3.5x Bitcoin volatility), sharp BTC declines tend to produce amplified downside moves in SOL. Adding to the pressure, the Crypto Fear & Greed Index plunged to 15 (Extreme Fear), reinforcing the risk-off mood. ETF Launch Fails to Boost SentimentThe long-awaited VanEck Solana ETF (VSOL) launched on November 17, the third U.S. SOL staking ETF. However, this launch did not ignite meaningful institutional demand.Grayscale’s Solana Trust saw outflows as staking rewards dropped to 5.8% APY, reducing yield appeal. Combined SOL ETF holdings sit at just $58M, a fraction compared to the $133B held in Bitcoin ETFs.In a push to gain market share, VanEck has waived its 0.3% management fee until February 17 or until the fund amasses $1 billion in assets. Technical Indicators Confirms Bearish MomentumSOL breached the $134.11 support, reinforcing a downward trend. Market dashboard data shows strong bearish alignment across indicators and moving averages.OscillatorsRSI (14): 32.83 — weak momentum, approaching oversold.Stochastic %K (9.62), CCI (–123.57), and Momentum (–21.21) — showing tentative signs of stabilizing demand, but not enough to shift trend.MACD (12, 26): –14.50 — strong bearish momentum signal.Moving Averages (Bearish)Every key moving average reflects negative trend direction:Source: TradingViewSOL also trades far below the 200-day SMA ($180.16), a major long-term trend gauge.The death cross (50-day crossing below 200-day) reinforces medium-term weakness.With RSI at 27.54 recently hitting oversold territory, SOL risks retesting the swing low at $129.02. SOL Outlook: Key Levels to WatchSolana continues to gradually slide toward major support at $126, indicating that selling pressure dominates rebounds.Support Zones$134.11 — broken pivot$129.02 — recent swing low$126 — major support; break could expose $115$95 — deeper downside target if panic selling persistsResistance Zones20-day EMA at 156.31 — likely to attract renewed selling pressure50-day SMA at 185.25 — key level where bears may attempt to reject upsideFibonacci 23.6% retracement at $187 — strong resistance areaA sharp rejection from the 20-day EMA increases the probability of retesting $126.Alternatively, a close above this level would signal solid demand at lower prices, allowing a rebound toward the 50-day SMA ($186).

🚀 Bitcoin has rocketed past 109k, smashing ATHs! Where's it going next?
Drop your prediction for this week's $BTC closing price in the comments of this post 👇
🎁The top 3 closest predictions will win 300 USDC, 150 USDC, and 50 USDC. Jump in and share your prediction now! 
*Campaign Period: 2025-01-20 07:30 to 2025-01-26 20:00 (UTC)
‼️Ensure you have updated your app to at least version 2.92. Also, make sure the "Also Repost" box is checked when replying to be eligible for entry.
Terms and Conditions:
This campaign may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the campaign period eriod. Ensure the "Also Repost" box is checked when replying, or your comment won't count as a valid entry.To ensure fairness, entries closed at 2025-01-26 20:00 UTC. The campaign's outcome will be based on the BTCUSDT price at  2025-01-26 23:59:59 UTC.If users made multiple comments, only the first comment will be considered as an eligible entry. Deleted comments are not eligible for rewards.In case of same predictions by multiple users, the earliest comment will be prioritized.Winners will be announced in the comments section of this post within 14 working days after the campaign ends and notified via a push notification under Creator Center > Square Assistant. Rewards will be distributed in the form of token vouchers to eligible users within 14 working days after the Activity ends. Users will be able to log in and redeem their voucher rewards via Profile > Rewards Hub. Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to disqualify any account acting against the Binance Square Community Guidelinesor Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.Where any discrepancy arises between the translated versions of this post and the original English version, the English version of this post shall prevail.Additional promotion terms and conditions can be accessed here.