Solana bounced off the $60 support zone this week, recovering about 5% as the broader market added just 0.13% in 24 hours. At the same time, Layer 3 cross-chain liquidity infrastructure project LiquidChain raised $832,783 in its presale, with the LIQUID token priced at $0.01468. The move above $60 gave SOL some breathing room, but the overall mood remains defensive.
The $60 floor holds, for now
Solana is trading near $63.61 after hitting a low near $60. The lower Bollinger Band sits at $60.52 — a level that has historically triggered short-term mean reversion. Daily RSI is at 28.42, deeply oversold. That usually hints at a bounce, but the daily MACD suggests sellers aren't done yet. The tension between the two indicators leaves the near-term path unclear.
SOL is still 11% below its 20-day EMA and more than 17% below its 50-day EMA. The 200-day EMA sits at $105, a long way off. Getting back above $69.51 — the hourly 200 EMA — is the minimum needed to even start talking about a bullish turn.
LiquidChain presale moves quickly
LiquidChain, described as a Layer 3 cross-chain liquidity infrastructure project, has raised $832,783 in its presale. The token, $LIQUID, is going for $0.01468. The project is still in its early stages, but the presale numbers suggest some demand for new infrastructure plays despite the broader market chill.
Extreme fear and ETF outflows
The Fear & Greed Index dropped to an extreme fear reading of 10. Bitcoin dominance remains at 57%, meaning capital is staying in BTC rather than rotating into altcoins like Solana. ETF fund outflows add another headwind — they're still an overhang that tilts probabilities toward the downside. The broader crypto market barely budged in the last 24 hours, up 0.13%.
On the hourly chart: tight range, narrow path
Solana is consolidating between $65.71 and $68.04 on the one-hour chart, with immediate resistance at $67.62. The average true range of $4.17 implies daily swings around 6%. Reclaiming the hourly 200 EMA at $69.51 is the minimum requirement for a bullish reframe. Until that happens, the range is the story.
