Solana (SOL) continued to fall in early weekend trading, down to $154.40 and 11.7% for the week. This follows broader market volatility after a U.S. appeals Court reinstated Trump-era tariffs. The decision reversed an earlier International Trade Court ruling and is spooking risk markets, including digital assets like Solana.
Technically, SOL has broken its key $165.94 support level and is now outside the bullish channel that had been in place since mid-April.
The daily chart looks nasty: a series of red candles and a Three Black Crows pattern. The 50-day EMA at $159.60 has flipped from support to resistance, and the MACD momentum indicators are showing widening gaps and deepening red histograms – all bearish.
Support levels: $141.60, $125.95, $112.04 Resistance zone: $176-$188 with strong rejection Momentum indicators: MACD bearish, RSI 46Derivatives Liquidations and ETF Delays Fuel Bearish Sentiment
The data shows a shift in sentiment around Solana. According to Coinglass, futures open interest fell 3.23% to $7.11 billion, and long liquidations were $18.98 million on Friday, while short liquidations were just $464,750. This represents a significant unwinding of leveraged long positions.
Meanwhile, the delays in US spot Solana ETFs, despite six applications from Fidelity and VanEck, are capping the optimism.
Polymarket has the approval odds at 82%, and some analysts, including VirtualBacon, are calling for post-approval targets of $440-$600, similar to Bitcoin’s post-ETF rally. However, until the SEC gives the green light, regaining $200 looks challenging.
Institutional Growth and Network Expansion Offer Long-Term Promise; Solana Supported?
Despite the short-term headwinds, Solana continues to attract institutional interest and foster ecosystem growth. Circle’s $250 million USDC mint on Solana in late May has added liquidity and expanded stablecoin utility – Solana now handles 34% of all stablecoin volume.
SOL Strategies is looking to raise $1 billion for validator infrastructure – a long-term vote of confidence in the network’s scalability.
Other catalysts include Coinbase’s 24/7 SOL futures trading, which began on June 13, and ARK Invest’s inclusion of Solana in a Canadian ETF. These don’t guarantee a quick bounce but provide a foundation for future adoption and price growth.
Solana Technical Outlook: Caution Needed as Bearish Trend Persists
For traders, Solana price prediction remains bearish. Look for support at $141.60; however, unless Solana forms a strong reversal pattern, such as a Hammer or Morning Star with MACD convergence and a retest of the 50 EMA, the path of least resistance remains down.
Newbies should wait for clear reversal signals to enter, while experienced traders can look for volume confirmation on a breakdown or reversal. Without bullish momentum, Solana may not retest $200 anytime soon.
BTC Bull Token Presale Approaches $7.67M Mark as 62% APY Staking Draws Interest
With SOL/USD dipping below $1560, attention is shifting to altcoins like BTC Bull Token ($BTCBULL). So far, $6.38 million has been raised, with the next price jump approaching quickly.
Bitcoin Rewards and Supply Reductions
BTC Bull Token operates with a built-in system: the higher BTC’s price, the more BTC airdrops are distributed to token holders. Notably, presale participants receive priority. The system also features:
Token burns every $ 50,000 BTC increase, reducing the supply. The current token price is at $0.00254 before the next bump.This approach aligns token value with BTC/USD’s price moves while maintaining scarcity through programmed burns.
Staking Terms for Passive Returns – BTCBULL’s staking pool holds 1.62 billion tokens offering 65% APY, with:
No lockup periods or fees. Full access to funds at any time.This structure appeals to investors seeking yield without complex requirements or the risk of illiquidity.
Momentum Before the Cap Fills
With just over $1 million remaining in the presale, buyers are positioning early. The token’s mechanics of BTC-tied rewards, supply adjustments, and staking options are driving participation.
Key figures:
USDT raised: $6,632,712/ $7,676,876 Token price: $0.00254BTCBULL offers a whopping ~62% APY on its Ethereum-based staking pool (currently holding 1.61B BTCBULL), with no lockups or withdrawal fees. That means passive yield, with full liquidity.
The post Solana Price Prediction: SOL Falls to $154.40 With 11.7% Week Decline – Can It Bounce Back to $200? appeared first on Cryptonews.
