Solana (SOL) is currently trading at $132.45, reflecting a 24-hour decline of 5.57%. The price has experienced a daily range of 9.1%, with a high of $140.30 and a low of $131.20, indicating heightened volatility in the short term.

The trading volume stands at approximately $4.99 billion, representing a volume-to-market cap ratio of 6.73%. This suggests a relatively high level of trading activity, which may indicate investor interest despite the recent price decline.

Technical indicators show that the hourly RSI is at 28, suggesting that SOL is in oversold territory and may be due for a corrective bounce. However, the 7-day RSI at 48 indicates a neutral momentum, while the 30-day price change of -19.00% reflects a bearish trend over a longer period.

Moving averages also present a bearish outlook, with the 8 SMA at $135.30 showing a decrease of 2.11% and the 21 SMA at $137.50 down 3.68%. Additionally, the 55 SMA at $140.73 is down 5.89%, reinforcing the downward pressure on the price.

From a fundamental perspective, Solana's all-time high of $293.31, reached on January 19, 2025, sets a significant benchmark for potential recovery. However, the recent negative price action and the overall market sentiment indicate challenges ahead for a bullish reversal.

In conclusion, the combination of oversold RSI signals and the significant price drop suggests a potential short-term bounce; however, the overall trend remains bearish. Therefore, the recommendation for Solana (SOL) is to Hold, as investors should monitor for signs of stabilization and a shift in momentum before considering new positions.