Solana Faces Potential Retracement as TD Sequential Signals Sell
Solana (SOL) is bracing for a potential decline below the $146 mark as the TD Sequential indicator, a tool widely used by professional traders to spot trend reversals, has flashed a sell signal. Market analyst Ali Martinez points out that this development suggests a waning bullish momentum for the altcoin, which is currently trading at $149.94 after a two-week uptrend. Traders are now considering profit-taking strategies in response to this signal, which could lead SOL to test the $146 support level in the NEAR term.
SOL Braces to Fall Below $146 as TD Sequential Prints Out Sell Signals
Solana (SOL) faces a potential retracement as the TD Sequential indicator flashes a sell signal, according to market analyst Ali Martinez. The altcoin, currently trading at $149.94 after a two-week uptrend, may correct to the $146 support level.
Professional traders often use the TD Sequential to identify trend reversals. The sell signal suggests waning bullish momentum, prompting traders to consider profit-taking or short positions. A breach of $146 could test lower support levels before stabilization.
Despite today's 2.7% gain, SOL's price action hinges on buyer defense at key levels. The market watches for confirmation of the predicted downturn, which WOULD mark a pause in Solana's recent rally.
Solana Price Forecast: SOL Breakout Fuels Optimism Amid ETF Buzz
Solana (SOL) has broken above its descending trendline, signaling a potential shift to an upward trend. The cryptocurrency trades around $151 as of Monday, with technical indicators suggesting a rally toward the $184 resistance level and beyond.
REX Shares has filed for a solana staking ETF with the SEC, indicating a possible launch in the near future. The proposed REX-Osprey SOL and staking ETF aims to track Solana's performance while generating yield through on-chain staking. Bloomberg's Senior ETF Analyst Eric Balchunas noted that REX Shares has addressed SEC comments, clearing a path for launch.
Market observers speculate the firm is accelerating its timeline to precede potential spot Solana ETFs. The filing has injected fresh Optimism into SOL's price action, with traders eyeing higher targets as institutional interest grows.
Ondo Predicts 2025 Will Be 'Year of Tokenized Stocks' After Partnership with Trust Wallet, 8 Other Firms
Ondo Finance has formed the Global Markets Alliance with nine major crypto firms, including Solana Foundation, BitGo, and Trust Wallet, to standardize tokenized securities and enhance cross-platform access to traditional financial products. The alliance addresses interoperability challenges in tokenized asset markets, with participants contributing specialized services such as wallet integration, institutional custody, and regulatory compliance.
Ondo's native token rose 1.5% following the announcement, breaking through a key resistance level at $0.765. The collaboration precedes the launch of ONDO Global Markets, a platform aimed at providing tokenized exposure to U.S. publicly traded securities for cryptocurrency wallets and applications.
The initiative signals growing institutional interest in bridging traditional finance with blockchain technology, with 2025 poised to be a pivotal year for tokenized assets.
Top 3 Crypto Airdrops For the First Week of July
Zama, a blockchain service specializing in Fully Homomorphic Encryption (FHE) technologies, leads this week's crypto airdrops. The project, backed by $130 million from investors like Pantera Capital and Solana's Anatoly Yakovenko, has surpassed a $1 billion valuation. Its public testnet launches on July 1, with participation requiring Discord community engagement.
The airdrop campaign targets select farmers, reflecting Zama's focus on blockchain and AI applications. The Series B funding round, led by Pantera Capital and Blockchange VC, underscores institutional confidence in its cryptographic innovations.
