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Solana’s (SOL) price continues to show downside risks amid weak demand from institutional and retail investors. Despite a short-term rise of about 4% after falling 6% on Sunday, sales pressure remains significant. Over the past week, SOL’s losses amounted to about 14%.
Inflows into Solana-focused exchange-traded funds fell to $ 9.57 million last week, down from $ 46.88 million a week earlier. On the futures market, over $ 60 million in long positions were liquidated over the past day, while short positions remain low, indicating a sellers' advantage.
From a technical perspective, SOL is trading below the key moving averages — the 50-, 100-, and 200-day EMAs — which confirms the dominance of the downtrend. The MACD indicator remains in the negative zone, and the RSI is at around 38, indicating a weak movement without signs of oversold.
Analysts call $ 117, the low of December 18, the key support level. In the event of a further drop, the price may test $ 112 and $ 100. The main resistance zones are located at $ 135 and $ 144, which correspond to the 50- and 100-day EMAs.
Experts predict that Solana may remain in a lower range in the coming days. A potential recovery to $ 99-$ 135 is possible only if market sentiment changes and the broader cryptocurrency market supports it.