The SEC’s recent ETF decision delay on Solana has triggered a notable bearish sentiment, pulling 16 million USD from SOL spot markets within a single day. This continues a worrying trend of over 250 million USD outflows amid diminished investor confidence.

Currently, SOL is priced at 126.82 USD and stands at risk of dropping to 110 USD if buying interest doesn’t increase. The MACD readings indicate a bearish outlook, suggesting potential further losses unless significant buying pressure emerges.