Solana’s Rally at Risk: Bearish Signals Threaten to Push SOL Below $100
Solana (SOL) recently experienced a 7% rally, but this upward movement may be short-lived as traders begin to bet against the trend. Despite the gains, SOL faces significant risks of reversing its progress, potentially falling below the critical $100 threshold if bearish pressures take over. The current rally appears to be more a reflection of the broader market trend rather than genuine demand for the altcoin. A key indicator, the Chaikin Money Flow (CMF), has formed a bearish divergence, currently standing at -0.09, signaling stronger selling pressure than buying momentum. This suggests that the recent uptick may lack the sustained support needed to maintain its trajectory, leaving SOL vulnerable to a downturn.
Solana’s (SOL) Rally Faces Risks of Reversal
Solana’s (SOL) recent 7% rally could unwind as traders bet against the uptrend. Despite the gain, SOL risks shedding these gains and falling below the $100 mark if bearish pressures dominate. SOL’s current rally largely reflects the broader market trend rather than demand for the altcoin. The bearish divergence formed by its Chaikin Money Flow (CMF) shows a lack of buying momentum, with the CMF currently at -0.09, indicating more selling pressure than buying interest.
Bitget Launches Bitget Onchain for Early Access to On-chain Assets
Bitget, a leading cryptocurrency exchange and Web3 company, has unveiled Bitget Onchain. This innovation combines the speed, security, and simplicity of centralized platforms with direct access to emerging on-chain assets. Bitget Onchain allows users to perform on-chain asset transactions directly on the Bitget App using a spot account with USDT or USDC, offering an exchange-level trading experience without complexity. The product initially supports Solana, BNB Smart Chain (BSC), and Base.
Solana Faces Risk of 30% Drop
Solana [SOL], the sixth-largest cryptocurrency by market cap, appears to be continuing its downward momentum due to bearish price action. Traders have built $85 million worth of short positions hoping SOL’s price won’t cross the $113 level. At press time, traders were holding more short positions than long positions in the market. SOL was trading around $108.50, having surged by over 10% from $97 within 24 hours, with a 25% increase in trading volume highlighting greater participation from traders and investors compared to the previous day. According to AMBCrypto’s technical analysis, SOL broke below its key horizontal support level of $114 on April 6, 2025, for the first time since March 2024.
HyperWo Launches to Bring AI-Powered Simplicity to Web3
HyperWo, a newly launched AI-native Web3 platform built on the Solana blockchain, has been introduced to address usability challenges in the decentralized ecosystem. Developed by a UK-based founder, HyperWo offers a modular suite of AI-powered tools that streamline common blockchain actions, allowing users to engage with complex on-chain data in a more accessible way. HyperWo’s mission is to reduce friction in the blockchain space by providing intelligent interfaces that can be used without prior experience or coding skills.
