Solana (SOL) is currently priced at $128.71, reflecting a 24-hour decrease of 3.92%. The daily trading range has been relatively narrow, with a high of $134.85 and a low of $128.54, indicating slight volatility.

The volume for the past 24 hours stands at approximately $4.30 billion, representing 5.90% of the market cap, which suggests active trading. However, the bearish sentiment is evident as both the 1-hour RSI at 24 and the 7-day RSI at 38 indicate oversold conditions, signaling potential downward momentum.

Moving averages show a consistent downtrend, with the short-term SMAs (8, 13, 21) all declining by 3.74% to 3.91%. The longer-term averages (55 SMA at -6.62% and 144 SMA at -9.17%) reinforce the bearish outlook, indicating that SOL is struggling to maintain upward pressure.

Fundamentally, the price has seen a 7-day decline of 9.23% and a 14-day decline of 6.88%, while the 30-day change indicates a slight recovery of 1.88%. Despite the recent pullback, the price remains significantly below its all-time high of $293.31, creating a challenging environment for buyers.

Given the current technical indicators and the prevailing market sentiment, a cautious approach is warranted. The lack of bullish signals combined with persistent selling pressure leads to a recommendation to Hold, as further downside risks appear imminent until clearer bullish signals emerge.