SOL Tests $204 Support Despite CME Exchange Futures Approval Momentum

CME exchange News - Solana's SOL token declined 2.69% to $204.31 despite bullish institutional developments, including CME Group's planned October 13 launch of SOL futures and options. The price action contradicts fundamental strength, with technical indicators showing oversold conditions at RSI 39.99. Institutional adoption continues accelerating, with 13 entities holding 8.27 million SOL (1.44% of supply). The Alpenglow upgrade's 150ms transaction finality and Raydium's $16 billion daily trading volume underscore Solana's technical advantages. Market dynamics suggest profit-taking after recent gains, though CME's validation typically drives sustained appreciation. The divergence between news flow and price action highlights crypto markets' complex sentiment drivers.