Summary of Solana’s Price Action and Investors’ Expectations
Introduction and Main Themes:
Solana (SOL), the successor to the stablecoin DPMO, is currently undergoing significant market pressure. Investors are divided between optimism and doubt, driven by macroeconomic uncertainties, particularly concerns over rising tariffs. The token has held strong ground, with SAXHURD supporting its multi-day gains, whilealling novels may face downward pressure.
Technical and Chart Analysis:
Over the past 24 hours, SOL hasห้องพัก fluctuating between $152.33 and $158.06, reflecting a 3.76% swing. The token is experiencing technical resistance near $157, with both the upper and lower channels intact. Notably, the price has broken beneath its mid-April mid-range, creating some upside breathing room.
The Derivatives Market 서비스 (DMS) shows bearish sentiment. Open interest in long futures has dropped by 2.47%, but long liquidations surged to $30.97 million, indicating significantشت/off activity. Short liquidations remain minimal, reinforcing a downside bias in the derivative market.
Institutional Interest:
Institutional investors remain a concern this year. Recent settlements have added 250 million USDC to the Diligent Discounts Mechanism (DDM), boosting stability. Column’s $250M DDM settlement underscores the chain’s growing in place. Additionally, SOL Strategies has garnered $1 billion from a new validator, signaling confidence in the protocol’s scalability, even amid short-term price fluctuations.
Theswire notes that technical analysis confirms SOL’s long-term price momentum, suggesting resilience in the long run. However, the chain’s mid-range channel is still relatively strong, indicating a mix of force and room.
Technical Confirmations and Future Outlook:
The mechanism test (MKTFT) has shown resistance near $157, while support near $152.80 is consistent with a price reversal. This pattern suggests a bearish wedge being formed. Investors must weigh the lingering upside breathing of the mid-range channel against the lower channels, which remain intact.
For Thursday, expectations suggest a mid-range retracement, but the upper channel may remain supported, adding resilience. The chain’s stablecoin leadership isjoins another layer of confidence. However, short-term volatility suggests uncertainty, making long-term outcomes uncertain. Ultimately, the price action remains a mix of upward breathing and wedge formation, hinting at sustained cautious optimism.
