Solana’s price stayed as steady as a cow in a storm this week, despite some flashy fireworks at the Breakpoint gathering. It’s like watching a sunflower bob in the wind-seems calm, but you know there’s a storm brewing just out of sight. 🌻🐂
- Solana summarily drew a bearish flag on the daily chart-like a bad haircut that won’t grow out.
- Major announcements at Breakpoint? Sure, but they don’t seem to have moved the needle much.
- Spot Solana ETFs kept adding assets like it was Black Friday-over and over, with no pause.
As of today, December 11, Solana (or SOL for the cool kids) was trading at a measly $131, down nearly half from its September glory days, which now seem like a lifetime ago. And the technical indicators? They’re whispering, “Uh-oh, maybe $100 isn’t just a dream.” 😅
Despite ecosystem happenings that could rival a soap opera-like a bridge between Solana and Base via Chainlink-Solana’s price did its best imitation of a stick in the mud. The bridge was a big deal, connecting two of the industry’s leading chains, with Base hosting over 700 dApps and more money than many small countries’ GDP. Yet, Solana’s price bobbed in place, as if saying, “Look over here, not there.”
And just to spice things up, Ondo Finance and State Street are launching SWEEP-a fancy private liquidity fund, because who wouldn’t want cash on-chain? Meanwhile, Animoca Brands plans to put its equity on Solana, and Bhutan? They’re eyeing a shiny gold token backed by the sovereign. Because nothing says stability like a government-backed gold token, right?
Crazy enough, Coinbase decided to let folks trade all Solana tokens on a decentralized exchange-imagine that! Now, millions can gamble with your beloved SOL. The tweet from Solana said it all: “BREAKING: @coinbase to allow users to trade all Solana tokens through a DEX, without listings 🔥” – because why not make it easy to lose money? 🎢🤑
Meanwhile, Solana’s ETFs have been gobbling up assets like a hungry hippo. Over the last week, they raked in more than $22 million, pushing their total net assets close to a cool billion. That’s more zeros than you’ll find in grandma’s cookie jar! 🏦
Technical Analysis: Or How I Learned to Love the Bear
Looking at the chart, SOL’s been on a nosedive since hitting $252 in September. Now, it’s wobbling around the soggy $130 mark, like a drunk sailor trying to find his footing. The dreaded bearish flag pattern? Check. Complete with a pole and a hope-it’s like a bad joke on repeat.
The death cross-when the 50-day and 200-day moving averages crossed-puts the final nail in the coffin, suggesting a plunge to around $100. If SOL slips below the key support at $122, well, folks, pack your bags; it might be time for a road trip to the $100 land. On the flip side, if it jumps above $147, maybe this whole doom-and-gloom thing was just a bad dream. But don’t hold your breath-better bring snacks.
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2025-12-11 21:00