Core Insights - Solana's price has been fluctuating between $117.3 and $128.8, indicating a cautious market with traders hesitant to take strong positions [1] - The market is experiencing a balance issue between spot buyers and an active derivatives market, which is influencing price behavior [2] - Technical levels are becoming increasingly important as traders look for clearer signals in the final weeks of 2025 [1][2] Market Activity - Trading volume for Solana reached approximately $6.0 billion over a 24-hour period, with a market capitalization around $70.9 billion [2] - Derivatives market activity includes about $1.497 billion in 24-hour perpetual volume and open interest near $365 million, indicating continued leverage usage by traders [3] - Total perpetual volume over the past 30 days is close to $39.8 billion, reflecting ongoing interest in short-term trading [3] Price Action and Technical Analysis - Solana is testing a significant support zone that has been monitored for nearly two years, with price compressing near this level [4] - The three-day chart shows that SOL has pulled back in an orderly manner from late-2025 highs and is moving sideways around a previous base [4] - Momentum indicators, particularly the RSI, are showing bullish divergence, suggesting that selling pressure may be weakening [5]