Solana (SOL) dropped by 3% to 152.40 USD, primarily due to bearish indicators related to a 1 billion USD token launch by Pump.fun. Trading volume decreased by 10% to 3.1 billion USD, emphasizing diminished investor confidence.
SOL is trading below key moving averages, indicating downward pressures, with the RSI at 38.41. Analysts predict a possible further drop of 5% before a trend reversal later this month.
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