Solana (SOL) is currently priced at $104.65, reflecting a 2.47% increase over the past 24 hours. The daily trading range has been notably volatile, with a high of $105.45 and a low of $96.60, indicating a daily range of 8.85%.

The trading volume for SOL stands at approximately $8.95 billion, corresponding to a volume-to-market cap ratio of 15.09%, which suggests healthy liquidity and trading activity. However, the 7-day RSI is at 40, indicating a potential bearish trend, while the 1-hour RSI at 63 suggests near-term bullish momentum.

Short-term moving averages show a mix of positive and negative performance; the 8 SMA and 13 SMA indicate gains of 3.70% and 3.47%, respectively, while the 55 SMA shows a decline of 0.94%. The 144 SMA reflects a more considerable drop of 9.40%, suggesting that the longer-term trend remains weak.

In terms of price performance, SOL has experienced significant losses over the past 30 days (-20.61%), 14 days (-22.03%), and 7 days (-15.66%). These figures indicate a prolonged downtrend, raising concerns about further price deterioration if buying momentum does not strengthen.

The all-time high for SOL remains at $293.31, set on January 19, 2025, which underscores the significant gap from the current price. This historical context may influence trader sentiment as they weigh potential recovery against recent performance.

Given the mixed signals from short-term and long-term indicators, the current bullish momentum may not be sustainable without improved market conditions. Therefore, a Hold rating is warranted at this stage, allowing investors to reassess after further price movements and potential market stabilization.