Mixed Week for Solana: SOL Price Dips, ETFs Lag, Policy Group Debuts
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- Solana (SOL) drops 15% weekly, falls below $120 after breaking key support
- Newly launched Solana ETFs (SOLZ, SOLT) see minimal volume, lagging BITO
- Solana Policy Institute launches in DC, led by Miller Whitehouse-Levine
Solana (SOL), until recently a top-performing digital asset, shed 15% of its value over the past week. The decline briefly pushed SOL to the seventh spot in market capitalization rankings below Circle’s USDC stablecoin before it reclaimed the sixth position despite a 4.54% drop over the prior 24 hours, according to CoinMarketCap data.
At press time, SOL traded near $118.49 with a valuation of approximately $60.74 billion.
Technical Analysis Points to Weakness
Crypto analyst Ali Martinez highlighted a critical technical weakness before the recent drop, noting that trendlines weaken with repeated testing. Martinez shared a chart showing SOL’s price testing a key support level multiple times since May 2024 before projecting a downward move.
That warning played out, with SOL…
The post Mixed Week for Solana: SOL Price Dips, ETFs Lag, Policy Group Debuts appeared first on Coin Edition.
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