Solana (SOL) is currently priced at $104.02, reflecting a significant 24-hour decline of 10.77%. The daily trading range has been notably volatile, with a high of $116.57 and a low of $100.65, resulting in a daily range of 15.92%.

Trading volume stands at approximately $10.1 billion, contributing to a volume-to-market cap ratio of 17.12%. The recent price action shows negative momentum, as evidenced by the 1-hour RSI at 34, indicating oversold conditions, while the 7-day RSI at 40 also suggests a lack of bullish momentum in the short term.

Moving averages further illustrate the bearish trend, with the 8 SMA at $104.84 showing a slight decline of 0.78%. Additionally, longer-term moving averages display substantial declines, particularly the 144 SMA at $119.91, which is down 13.25%, indicating persistent downward pressure.

Over the past week, SOL has experienced a price change of -17.78%, with 14-day and 30-day changes of -26.93% and -19.53%, respectively. This trend reflects a broader market sentiment that remains negative, especially considering the substantial drop from its all-time high of $293.31 reached in January 2025.

Given the current technical indicators and the overall bearish trend in both short-term and long-term metrics, a Sell rating is warranted. The combination of low RSI values, negative price momentum, and declining moving averages indicates that further downside risk exists in the near term.