Solana's SOL token declined nearly 4% in 24 hours to approximately $154, with market capitalization at $85.47 billion and daily trading volume around $5.87 billion, as investors grew cautious ahead of the company's Q3 earnings release. Key support between $153 and $155 is under scrutiny, and a breach could trigger a drop toward $145, increasing pressure on leveraged traders.
Despite the price weakness, Solana's fundamentals show strength, with total value locked (TVL) and on-chain stablecoin supply reaching multi-month highs above $14.6 billion, signaling growing DeFi liquidity and user engagement. Technical indicators reinforce bearish momentum, with the MACD histogram at -1.1 and RSI at 32.69, while SOL trades below its 7-day SMA of $159.22 and pivot point of $155.25.
Analysts note that positive earnings or updates on token allocations, staking programs, or buybacks could push SOL toward the $160–$163 resistance zone, attracting momentum buyers. However, failure to reclaim $155.25 on a daily close risks accelerating liquidations and a retest of the $135–$140 support region. Derivative markets show mixed activity, with larger holders reducing positions and smaller traders accumulating, highlighting the interplay between institutional and retail behavior in driving short-term volatility.
BNB
BTC
ETH
USDC
FIL
XTZ
NEAR