The amount of Solana (SOL) held on centralized exchanges has jumped to a two-week high, signaling increased selling pressure as the broader crypto market continues to lose steam.
Currently at 31 million SOL, the rising exchange balance suggests investors are preparing to offload holdings.
This pattern typically precedes price declines, as coins are often moved to exchanges with the intent to sell.
Adding to the bearish outlook, SOL’s futures funding rate has slipped into negative territory for the first time in over a week, currently at -0.0006%.
This indicates growing demand for short positions, further highlighting weakening sentiment.
If selling pressure persists, SOL may drop below its current support level of $142.59, potentially falling toward $123.49. A bullish reversal, however, could trigger a rebound toward $171.88.
Stellar (XLM) is once again approaching a decisive technical moment after facing a familiar rejection at the $0.52 resistance zone.
The crypto market is showing signs of cautious optimism. While prices remain elevated, sentiment indicators and trading activity suggest investors are stepping back to reassess risks rather than diving in further.
A wave of bullish momentum is sweeping through smaller-cap altcoins, with ResearchCoin (RSC), Electroneum (ETN), and REI Network (REI) all recording substantial 24-hour gains.
XRP is drawing fresh investor attention as optimism builds around its legal standing and potential exchange-traded products (ETPs).