Solana Price Hits Resistance as MACD Turns Bearish
Solana's price has been trading near $95 after a 26% gain in recent days, driven by regulatory optimism and active network governance votes. The token is facing daily resistance between $97.68 and $98.44, but buyers have defended the pullback, returning Solana to the $94.58 Fibonacci level.
The rally coincided with the US Securities and Exchange Commission's proposal for a new framework called Regulation Crypto Assets, which would give crypto companies clearer routes to raise capital under federal securities laws. However, the proposal is still at the stage of public comments, and the outcome is uncertain.
Validators are voting on proposals covering governance, inflation, and transaction fees, including SGP-0002, which would double the network's annual disinflation rate from 15% to 30%, potentially removing about 18.9 million SOL from scheduled emissions over six years.