Solana (SOL) is currently trading at $183.32, reflecting a 24-hour change of -1.30%. The daily range has shown a high of $187.84 and a low of $182.84, indicating a volatility of 5% within the last day, which suggests market participants are cautious.

Trading volume stands at approximately $3.08 billion, representing 3.04% of the market cap. The trading volume indicates significant activity, but the downward price movement may suggest that selling pressure is outweighing buying interest at current levels.

The short-term moving averages reflect a bearish trend, with the 8 SMA at $185.00 showing a decrease of 0.91% and the 13 SMA at $185.89 down by 1.38%. This trend continues with the 21 SMA and 55 SMA also in negative territory, while the 144 SMA is at $191.16, down 4.10%, indicating a lack of bullish momentum.

The Relative Strength Index (RSI) values present a mixed picture, with the 1-hour RSI at 42, suggesting potential oversold conditions in the short term. However, the 7-day RSI at 45 remains below the neutral threshold of 50, indicating that Solana is still in a bearish trend over the past week.

Over the past 30 days, Solana has decreased by 21.50%, reflecting broader market trends and potential investor concerns. Given that the current price is significantly below the all-time high of $293.31 reached on January 19, 2025, it indicates that Solana still has considerable room for recovery if market conditions improve.

Considering the current technical indicators and recent price actions, the outlook for Solana remains cautious. The consistent downward pressure and the absence of bullish signals warrant a rating of Hold, as investors may want to wait for clearer signs of a reversal before committing further capital.