Solana is showing signs of resilience as it trades at $124.27, recovering 1.86% after testing critical support levels near $117 amid ongoing legal uncertainties. The recent weekly decline of nearly 7% reflects lingering market caution, with sentiment still in the "Fear" zone (Fear & Greed Index: 29). Technicals remain mixed: the MACD signals bearish momentum, while RSI sits in neutral territory, suggesting SOL is not yet oversold and could stabilize near key support levels. Fundamental developments provide potential tailwinds, including Morgan Stanley’s SEC filing for a spot Solana ETF and optimism around regulatory shifts under new SEC leadership, which may ease concerns about the “unregistered security” status of SOL. Looking ahead, the upcoming Alpenglow mainnet launch and the activation of the Firedancer validator client are expected to enhance network throughput and activity, while scheduled token unlocks for Jupiter (JUP) and Kamino (KMNO) could temporarily pressure liquidity. In my view, SOL is at a delicate juncture: if it holds above $115-$117, it could attract accumulation and set the stage for a move toward $132 and beyond, but a breach of support may trigger deeper downside, potentially revisiting the $100 zone. Monitoring both technical support and regulatory developments will be crucial in shaping near-term market direction. $BTR $RESOLV $AUCTION #FedWatch #ETHMarketWatch #Solana #MarketSentimentToday #MarketMeltdown