15.10.2025 22:44

According to internet sources, Solana (SOL) is currently navigating a challenging market landscape, trading at $198.19. This reflects a 2.7% dip over the past 24 hours.

The recent decision by the Securities and Exchange Commission (SEC) to postpone its verdict on multiple Solana Exchange Traded Fund (ETF) applications until October 16, 2025, is casting a shadow over market sentiment. The regulatory body expressed its need for further assessment of market integrity and investor safeguarding issues, prompting immediate sell-offs as investors mitigated potential risks prior to the looming decision.

Interestingly, this regulatory uncertainty has overshadowed a prior positive technical development. Earlier this week, on October 10th, Solana had successfully breached a year-long downtrend, signaling a possible transition from a bearish to a more bullish outlook. This serves as a stark reminder of how regulatory ambiguity can promptly eclipse technical progress within the volatile cryptocurrency market.

From a technical analysis perspective, Solana is presently testing a crucial support level at $195.17. While the token's price remains beneath its 7-day ($199.04) and 20-day ($213.08) Simple Moving Averages (SMAs), it continues to trade considerably above its 200-day moving average ($173.38), thereby maintaining its long-term market position.