Solana (sun) remains under pressure as macroeconomic headwinds – especially renewed customs problems – the confidence of the frame investor.
The token now hovers around $ 154.50 after establishing a tight trading area between $ 152.33 and $ 158.06, reflecting a 3.76% swing over the last 24 hours, according to Coindesk Research’s technical analysis data model.
Although higher low lower had suggested resistance, sun slid from $ 156.74 to $ 154.86 in a single hour and broke under its mid-april uptrend channel.
Derivater data reflects Bearish atmosphere: Open interest in Sol Futures is down by 2.47% to $ 7.19 billion, while long liquidations rose to $ 30.97 million, indicating a pressure on geared positions. Short liquidations remain minimal, which amplifies downward bias.
Still, institutional interest is still clear. Circle’s recent $ 250 million USDC Mint on Solana has added liquidity and cemented the chain’s stableecoin management, with 34% of all stableCOin volume, now directed through the network. In addition, the SOL strategies’ Validatorfond Fund of $ 1 billion signals sustained long -term confidence in the scalability of the protocol, even when short -term price action breaks.
Technical analysis highlights
- Sol established a 5.73-point interval ($ 152.33- $ 158.06), indicating a 3.76% intraday swing.
- Previous pricing is traced to a clear rising channel with solid support near $ 152.80, supported by heavy accumulation.Sol hit a session high of $ 158.06 over 19:00 hours on strong volume that signaled earlier Bullish Momentum.
- A turn that was unfolded in the early morning hours, with sun that fell from $ 156.74 to $ 154.86 on increased sales. The seller pressure peaked between 01: 53–01: 54, with over 74,000 units traded in a sharp burst.
- Short -term Momentum was Bearish as lower heights and weaker volume defined the final trading feature. As a writing, SOL consolidates near $ 154.50, which suggests price stability, but with downward risk if the volume is not improved.
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