Solana (SOL) is currently trading at $81.33, reflecting a significant drop of 11.79% over the past 24 hours. The daily range shows volatility, with a high of $92.27 and a low of $70.61, indicating a 21.66% price fluctuation within this period.

Volume stands at $14.71 billion, constituting 31.91% of the market cap, suggesting strong trading activity and liquidity. The hourly moving averages reveal a bearish sentiment, particularly with the 55 SMA at $90.17 showing a decline of 9.80%, indicating resistance at higher price levels.

Technical indicators also reflect a bearish outlook, with the 1-hour RSI at 43, indicating that SOL is nearing oversold conditions but not yet triggering a reversal. The 7-day RSI of 37 confirms this, suggesting continued selling pressure over the past week, accompanied by a steep 29.41% decline in price.

Looking at longer-term trends, the 14-day price change shows a decline of 36.33%, and the 30-day change is even steeper at 41.61%. This indicates a consistent downtrend in SOL’s price, further reinforced by the proximity of the current price to its recent lows.

Given the technical and fundamental data presented, SOL is currently under significant bearish pressure, and the resistance levels are still quite high compared to the current price. Therefore, the recommendation is to Hold for now, as there may be opportunities for a rebound if the price stabilizes above the 8 SMA of $77.88 and the RSI shows improvement in the coming sessions.