Solana (SOL) is currently trading at $94.53, reflecting an 8.46% decline over the past 24 hours, with a daily trading range of 8.87%. The asset reached a high of $103.34 and a low of $94.47 within the same period, indicating significant volatility.

The trading volume stands at approximately $7.01 billion, representing 13.08% of its market capitalization. Key moving averages show a bearish trend, with the 8 SMA at $97.70 (-3.25%) and the 144 SMA at $107.55 (-12.11%), suggesting continued downward pressure on the price.

The 1-hour RSI is at 29, indicating that SOL is in oversold territory, which may suggest a potential short-term rebound. However, the 7-day RSI of 40 and a 30-day price change of -29.99% reflect a longer-term downtrend, raising concerns about the sustainability of any upward movement.

Solana's all-time high of $293.31 highlights the current price's distance from historical peaks, emphasizing the need for a strong recovery to regain investor confidence. The persistent decline across multiple timeframes indicates that the overall market sentiment is bearish, which could hinder short-term gains.

Given the current technical indicators and the significant downward momentum, a cautious approach is warranted. Therefore, the rating for Solana (SOL) is a Hold; this allows for observation of potential reversal signals while avoiding exposure to further downside risks.