Solana (SOL) is currently trading at $86.53, reflecting a 1.62% increase over the past 24 hours. The daily price range has been relatively tight, with a high of $86.6 and a low of $84.05, indicating stable short-term volatility.

The trading volume stands at approximately $2.26 billion, which accounts for 4.59% of the market capitalization, suggesting a healthy level of trading activity. The moving averages indicate positive momentum, particularly with the 55 SMA showing a notable increase of 3.51%, suggesting upward price pressure.

The 1-hour RSI is at 78, indicating that SOL is in the overbought territory in the short term. However, the 7-day RSI is neutral at 50, reflecting a lack of significant momentum in the medium term, further supported by a 7-day price change of -1.70% and a 14-day decline of -1.07%.

In the longer term, SOL has experienced a substantial decline of over 32% in the past 30 days, which raises concerns about potential bearish sentiment. The all-time high of $293.31, reached on January 19, 2025, serves as a significant resistance level, which the asset has struggled to approach in recent months.

Given the current market conditions, the short-term positive momentum might attract traders, but the longer-term decline and overbought status suggest caution. Therefore, the recommendation is to hold SOL for now, as the asset may present buying opportunities at lower levels while waiting for stronger bullish indicators to emerge.