📉 $SOL Market Update — Testing Critical Support
$SOL has declined around 5.9% in the last 24 hours, trading near $117–118, as bearish structure continues to pressure price.
🔍 What’s happening:
• SOL is printing lower highs and lower lows, confirming short-term bearish momentum.
• Price is repeatedly testing the $117 support zone, showing weakness but not yet a clean breakdown.
• Buying volume remains muted, suggesting buyers are cautious rather than aggressive.
🌍 Macro influence:
The U.S. Federal Reserve holding interest rates steady has kept liquidity expectations tight, weighing on risk assets — including crypto. This has reinforced a risk-off tone across the market.
📊 Key levels to watch:
• Support: $117 (critical)
• Below $117: Risk of continuation toward lower liquidity zones
• Above $120: First sign of short-term relief
🧠 Market read:
• Short-term bias: Bearish
• Structure: Consolidation under pressure
• Volume: No strong demand yet
• However, early signs of institutional interest remain, with reported ETF inflows (~$1.8M), suggesting long-term interest hasn’t disappeared.
⚠️ Takeaway:
As long as SOL holds below reclaimed resistance, rallies may continue to face selling. A confirmed breakdown below $117 could accelerate downside, while a strong reclaim with volume would be the first signal of stabilization.
Patience > prediction in this zone.
