Currently, the Solana asset shows complex dynamics driven by various factors, including trader behavior and ETF expectations. This article discusses key aspects of the market and forecasts.
Market Dynamics
Over the past week, Futures data showed buy-side activity holding firm, and funding rates stayed modestly positive without sudden spikes, indicating steady market pressure. Market Prophit’s smart-money indicator sits at 1.79, while crowd sentiment registers just above neutral. The 90-day Futures Taker CVD flashed a “Taker Buy Dominant” signal on June 20, pointing to consistent buying interest.
Technical Analysis and Support Levels
At present, Solana (SOL) is trading at $143.94, reflecting a 0.84% decline over the past 24 hours. Over the week, SOL has dropped 9.83%, and its 30-day performance shows a decline of 13.02%, indicating sustained bearish momentum. However, the asset remains up 6.16% year-over-year, supported by a recovery from December 2022 lows. Technical analysis suggests a bearish phase, with strong sell signals across major trading platforms. Key support zones to monitor include the $130–$118 range.
Fundamental Factors and Institutional Investors
On the fundamentals front, SOL has been gaining renewed institutional attention. Bloomberg ETF analyst James Seyffart estimates a 90% chance of Solana spot ETF approval, with Polymarket pricing the chance at 92%. While the news supports sentiment, regulatory uncertainty around staking and yield-generating tokens remains a concern among investors. Investor Anthony Scaramucci stated at the DigiAssets 2025 conference that Solana could eventually surpass Ethereum in market capitalization, highlighting growing interest in its ecosystem.
According to current analytical data, the Solana market continues to show activity, but investors face risks due to bearish sentiment and regulatory uncertainty. The coming months will be critical for SOL's future movement.
