Solana (SOL) is currently priced at $115.26, reflecting a 24-hour decline of 6.37%. The price has fluctuated between a daily high of $123.11 and a low of $113.12, indicating a significant daily range of nearly 10%.

The trading volume over the past 24 hours stands at approximately $8.02 billion, constituting 12.29% of the market capitalization. This volume suggests substantial trading activity, although the recent price drop may indicate profit-taking or bearish sentiment among traders.

Looking at the moving averages, the short-term 8 SMA and 13 SMA are trending downward, currently at $116.03 and $116.45, respectively. The longer-term 21 SMA at $118.49 and 55 SMA at $123.04 further indicate a bearish outlook as they are also declining, which could suggest continued selling pressure.

The RSI metrics show a concerning trend with the 1-hour RSI at 43 and the 7-day RSI at 42, both indicating potential oversold conditions but also a lack of upward momentum. The 7-day, 14-day, and 30-day price changes reflect ongoing weakness, with declines of 9.78%, 19.31%, and 8.39%, respectively, further substantiating a bearish trend.

Despite Solana's all-time high of $293.31, achieved earlier in 2025, current performance metrics do not support a bullish outlook in the short term. Given the current price action, moving average trends, and RSI readings, the sentiment remains bearish with no immediate signs of recovery.

Considering all factors, the rating for Solana (SOL) is a Sell. The downward trajectory in price, coupled with bearish moving averages and weak RSI readings, suggests that further declines are likely before any potential reversal.