SOL Token Slides 5.91% to $117 Amid Fed Rate Decision, Key Support Levels Tested

SOLUSDT experienced a notable decline over the past 24 hours, with the price falling by approximately 5.91% to $117.61 (Binance data). The price drop is primarily attributed to a bearish market structure, with SOL repeatedly testing key support levels near $117 and facing persistent downward pressure amid broader cryptocurrency market weakness. The Federal Reserve’s decision to maintain interest rates has influenced liquidity expectations, contributing to cautious sentiment. Technical indicators show lower highs and lower lows, and relatively subdued buying volume has intensified concerns of a breakdown below current support.

Currently, SOLUSDT is trading near its 24-hour low, with 24-hour trading volumes reported from $117.73 million to $3.503 billion across exchanges, and market capitalization between $66.45 billion and $69.57 billion. The asset is consolidating above the $117 support, and while short-term sentiment remains bearish, some institutional accumulation and recent ETF inflows of $1.87 million indicate continued interest.