- Daily and weekly charts flash sell signals, while monthly trend remains neutral; watch $130–$118 support as consolidation floor.
- Bloomberg odds place Solana spot ETF approval near 90%, Polymarket pricing at 92%, amid ongoing SEC staking uncertainty.
Over the past week, Futures data showed buy-side activity holding firm, and funding rates stayed modestly positive without sudden spikes. Consequently, market pressure appears steady rather than overheated.
Market Prophit’s smart-money indicator sits at 1.79, while crowd sentiment registers just above neutral. In parallel, the 90-day Futures Taker CVD flashed a “Taker Buy Dominant” signal on June 20, pointing to consistent buying interest rather than short-term spec flips.
Binance data reveal 74.83% of positions net long against 25.17% net short, driving a Long/Short ratio of 2.97. Therefore, most individual investors expect higher prices. However, that skew carries risk if Solana fails to break upward. An abrupt shift could trigger liquidations, amplifying volatility.
Interestingly, funding rates have risen only slightly to 0.001% on SOL/USDT perpetuals. This pattern indicates that holders pay a small premium to stay long, yet they avoid piling on leverage. As a result, the rally—or rebound—may unfold gradually, without a sudden surge fueled by borrowed funds.
Short sellers have felt the squeeze. Between June 1 and June 20, short liquidations totaled $192 K, compared with $1.21 M in long exits. On Binance alone, shorts faced $68 K in liquidations, while OKX recorded $102 K. This trend suggests that as price nibbles higher, bears repeatedly exit under pressure, bolstering upward momentum.
Solana (SOL) is currently trading at $143.94, showing a slight -0.84% decline in the past 24 hours, continuing its correction after a strong rejection from the $186 resistance zone. Over the past week, SOL has dropped -9.83%, and its 30-day performance reflects a -13.02% decline, highlighting sustained bearish momentum.
However, the asset is still up +6.16% year-over-year, supported by long-term recovery from its December 2022 lows at $8.00. Solana reached a cycle high of $295.00 on January 19, 2025, making current prices about 50% off the recent top.
From a technical analysis perspective, Solana is in a bearish phase. Daily indicators across major trading platforms, including TradingView, show strong sell signals, and weekly timeframes also suggest downside pressure.
On the monthly scale, however, the signal is neutral, indicating the possibility that this is a mid-cycle consolidation rather than a full trend reversal. Key support zones to monitor include the $130–$118 range, which historically served as a consolidation floor during previous retracements.
On the fundamentals front, SOL has been gaining renewed institutional attention. Bloomberg ETF analyst James Seyffart estimates a 90% chance of a Solana spot ETF approval in the U.S., with decentralized prediction market Polymarket pricing approval odds at 92%. While the news has helped buoy sentiment, regulatory uncertainty around staking and yield-generating tokens remains a concern given ongoing SEC scrutiny.
Further fuel for bullish speculation came from investor Anthony Scaramucci, who at the DigiAssets 2025 conference stated that Solana could eventually surpass Ethereum in market capitalization.
Although he did not provide a timeline, his endorsement highlights growing institutional optimism around Solana’s speed, cost-efficiency, and growing application layer — especially in DeFi, NFTs, and on-chain gaming.
Solana’s ecosystem continues to exhibit strong user and developer activity, particularly through platforms like Jupiter (DEX), Raydium (AMM), Tensor (NFT marketplace), and various memecoin communities. Trading volume remains elevated, with over $3.02 billion traded in the last 24 hours, a sign of ongoing interest even amid price retracements. Daily volatility is measured at 3.43%, consistent with high-growth assets during consolidation.
