The broader crypto market is going through small promoting force in the early Sunday session with $131 million liquidated in the final 24 hours, in accordance with Coinglass data. This comes after a well-known promote-off over the final week when investors decrease earnings and thought of as macroeconomic concerns.
Solana has mirrored the broader market sentiment, falling for four days at a stretch from a high of $168 on June 11 and testing the indispensable $140 toughen on June 13.
The significance of the $140 toughen is seen as SOL ticket rebounded from it in Friday’s promote-off, which noticed indispensable altcoins set shut heavy hits and liquidations exceed $1 billion.
Ali, a crypto analyst, highlights the significance of the $140 level in a recent tweet. Ali wrote, “If Solana SOL loses $140 as toughen, it might perchance most likely well perchance originate the door for a deeper pullback in direction of $100.”
If #Solana $SOL loses $140 as toughen, it might perchance most likely well perchance originate the door for a deeper pullback in direction of $100. pic.twitter.com/slBGK9vc3Z
— Ali (@ali_charts) June 15, 2025
On the time of writing, SOL used to be attempting to recover, up 0.39% in the final 24 hours to $146 after falling to a low of $144 earlier.
If promoting force persists, eyes would be on the $140 toughen as highlighted by Ali, which Ali illustrious as a key level to defend to dwell a long way off from a 30% drop to $100. Nonetheless, if the present rebound gains momentum, bulls will all over again are trying to push SOL ticket above the on a typical basis transferring averages of 50 and 200 at $160 and $174, respectively.
ETF optimism stays
In step with analysts, the U.S. Securities and Change Commission might perchance perchance originate approving definite cryptocurrency-connected switch-traded funds as early as next month, taking off an “altcoin ETF summer.”
Bloomberg senior ETF analyst Eric Balchunas shared on X some extent out from colleague analyst James Seyffart, stating that “ETFs that notice wide crypto indexes would be well-liked by the SEC next month.”
The characterize moreover anticipates that the SEC might perchance perchance “act early” on Solana and staking ETF submissions, with Balchunas predicting to “make a selection up ready for a doable altcoin ETF summer with Solana seemingly leading the model.”
