Overview
- SOL fell to roughly $128–$129 and is consolidating below $140 after a 26% monthly slide to multi-month lows.
- Multiple analyses flag a confirmed breakdown beneath ~$146 with heavy short positioning near $150, and a reclaim of those levels is needed to ease bearish pressure.
- On-chain realized distribution shows a demand gap below $144, raising the likelihood of swift moves toward $120, $112, or even $95 if selling accelerates.
- Fidelity filed a Form 8‑A for a spot Solana ETF, a step usually taken just before trading, while Bitwise and Grayscale Solana funds are already live with hundreds of millions in assets and no reported net outflows since launch.
- Potential support factors include Upexi’s $50 million buyback authorization and approaching Firedancer and Alpenglow upgrades intended to improve validator diversity, speed and reliability.