Kraken Market Watch: Solana (SOL) Struggles Amid Broader Crypto Downturn — Can Bulls Stage a Comeback?

Solana (SOL) continues to face downward pressure, trading below $162 after failing to hold the $172 resistance level. A bearish trend line at $160 on the hourly chart signals further weakness, mirroring broader market trends as Bitcoin and ethereum also decline. For a potential reversal, SOL must break the $160 resistance, with $165 and $170 as key upside targets. Failure to hold support could prolong the downtrend. This analysis explores SOL’s technical outlook and its implications for traders on Kraken and beyond.

Solana (SOL) Continues to Fall — Is a Reversal in Sight?

Solana’s price struggles to regain momentum after a sharp decline from the $172 resistance level. The SOL/USD pair now trades below $162, with a bearish trend line forming at $160 on the hourly chart. Market sentiment mirrors broader crypto weakness, as Bitcoin and Ethereum face similar downward pressure.

A recovery hinges on breaking the $160 resistance, with $165 and $170 acting as critical upside targets. Failure to hold the $150 support could signal further downside. Kraken data shows Solana’s recent low NEAR $150 before a modest rebound, but the 100-hourly moving average remains a key hurdle.

Justin Sun Highlights TRON’s Role in Blockchain Finance at Bitcoin Vegas 2025

TRON DAO emerged as a dominant force at Bitcoin 2025 in Las Vegas, serving as a top sponsor for Code + Country’s America 250 VIP Reception and co-hosting Kraken’s Oceanic Night. The event drew over 800 attendees, including political figures and industry leaders, positioning TRON at the forefront of discussions on America’s technological evolution.

Justin Sun, TRON founder and WBTC advisor, headlined a Nakamoto Stage panel titled ’Building The Future Financial Products of America.’ Alongside Bitwise CEO Hunter Horsley and BitGo’s Mike Belshe, Sun predicted a surge in hybrid financial products merging blockchain with traditional markets. ’We are going to see a lot more products that blend blockchain with traditional finance,’ Sun stated, referencing Kraken’s anticipated tokenized stock offerings.