Solana’s looking heavy right now. Price is down again, drifting toward a level traders are watching closely: $116. That zone caught the fall last week… but the bounce wasn’t convincing. 📉
Under the hood, sentiment isn’t great either.
Futures Open Interest just dropped to $7.42B, showing positions are getting wiped or traders are pulling back. On top of that, long liquidations ($5.55M) crushed shorts ($1.34M), which usually means bulls got caught on the wrong side. Funding also flipped negative (-0.0042%), a sign more traders are leaning short than long right now.
Macro isn’t helping much. The Fed kept rates steady, which means liquidity relief isn’t here yet. Risk assets like SOL usually struggle in that kind of environment. Still, later rate cuts or clearer crypto regulation (like progress on the CLARITY bill) could flip sentiment fast just not today.
Technically, SOL still looks weak.
Price is trading below the 50, 100, and 200 EMAs, which keeps the trend pointed down. The RSI around 40 shows momentum is soft, but not deeply oversold yet. MACD is still negative, though the selling pressure is slowing a bit.
Here’s the key part:
🛑 Support: $116
If that breaks with a strong daily close, next stops are $100 and then $95.
📈 Resistance: $133 → $144 → $145–148 zone
SOL needs to reclaim those levels to shift momentum back to bullish.
For now, Solana isn’t collapsing… but it’s definitely on defense. And $116 is the line bulls need to protect.
#sol $SOL