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Key takeaways

• Solana (SOL) traded lower on Monday, extending its corrective trend from early July.
• Institutional demand remains subdued, with SOL ETFs recording less than $1 million in inflows for a second consecutive week.
• Futures Open Interest declined while trading volume surged 78%, pointing to increased market activity but weaker conviction.

Solana (SOL) edged lower on Monday, continuing its recent correction as both institutional and retail market indicators pointed to weakening demand.

Although trading activity has picked up sharply over the past 24 hours, declining futures positioning and muted exchange-traded fund (ETF) inflows suggest investors remain cautious about the token’s near-term outlook.

The combination of slowing institutional participation and growing bearish sentiment has kept SOL under key technical resistance levels.

Institutional investors continue to favor Bitcoin and Ethereum

Demand for Solana-focused investment products remained subdued last week.

According to CoinGlass data, SOL exchange-traded funds (ETFs) attracted approximately $948,210 in net inflows, following $930,430 the previous week.

While inflows remained positive, they were significantly lower than those recorded by the two largest cryptocurrencies: Bitcoin ETFs, with $75.67 million in weekly inflows, and Ethereum ETFs with $105.44 million in weekly inflows.

The figures suggest institutional investors continue allocating capital toward more established digital assets rather than increasing exposure to Solana.

Retail trading activity increased sharply despite the recent price weakness. CoinGlass data shows that the futures trading volume jumped 78% to $5.37 billion over the past 24 hours. Meanwhile, the Open Interest (OI) slipped slightly to $4.77 billion.

The combination of rising trading volume and declining Open Interest typically suggests positions are being closed rather than new bullish positions being established.

Meanwhile, funding rates have turned slightly negative, falling to approximately 0.0023%, indicating traders are increasingly willing to pay to maintain short positions.

This shift points to growing bearish sentiment among derivatives traders despite elevated market activity.

Solana price prediction: Will SOL fall toward $70?

From a technical perspective, Solana continues to trade within a short-term bearish structure.

On the four-hour chart, SOL remains below both the 50-period EMA at $76.32 and the 200-period EMA at $76.51.

These moving averages continue to act as immediate resistance, limiting the token’s recovery attempts.

Technical indicators present a mixed picture. The Relative Strength Index (RSI) is hovering around 49, indicating neutral momentum with neither buyers nor sellers holding a decisive advantage.

Meanwhile, the Moving Average Convergence Divergence (MACD) has turned modestly positive, suggesting buying pressure is gradually improving.

However, the bullish momentum remains too weak to overcome the prevailing downward trendline.

If selling pressure continues, traders will be watching the following support levels:

• $73.50 — S1 Pivot support.
• $72.80 — Descending trendline support.
• $70.62 — S2 Pivot support.

A decisive move below the $72.80–$73.50 support zone could accelerate losses toward $70.62.

For the bullish outlook to improve, Solana must first break above its descending resistance trendline near $77.27.

If buyers reclaim this level, the next upside targets become the $81.92 resistance. 

A sustained close above the trendline would weaken the current bearish structure and increase the probability of a broader recovery.

Solana continues to face headwinds from both institutional and retail markets. While trading activity has surged, declining Open Interest, weakening funding rates, and modest ETF inflows indicate investors remain cautious.

Unless SOL breaks above the $77.27 resistance level, the correction that began in early July is likely to continue, with $70.62 emerging as the next major downside target.

The post SOL faces selling pressure as ETF inflows slow and futures sentiment weakens appeared first on CoinJournal.

Key takeaways

• LayerZero (ZRO) fell about 3% on Monday, extending last week’s 9% decline.
• The network is set to unlock 25.71 million ZRO tokens, equivalent to 4.6% of the total supply, increasing potential selling pressure.
• Despite bearish price action, futures trading volume surged 552%, reflecting heightened retail interest.
• Technically, ZRO remains in a downtrend, with support at $0.734 and a potential downside target near $0.532.

LayerZero (ZRO) extended its recent losses on Monday, falling roughly 4% as investors prepared for one of the project’s largest scheduled token unlocks.

The token has already declined about 9% over the past week, and the release of 25.71 million ZRO into circulation could add further selling pressure in the short term.

Although derivatives activity has surged ahead of the unlock, market positioning suggests traders remain cautious about the token’s near-term outlook.

Monthly token unlock adds supply pressure

According to Tokenomist data, LayerZero will unlock 25.71 million ZRO tokens on Monday, representing approximately 4.6% of the token’s total supply.

The newly unlocked tokens will primarily be allocated to strategic partners and core contributors.

At the same time, approximately 1.67 million ZRO, or 0.3% of the released supply, will be repurchased through a buyback program.

The planned buyback may signal confidence from the project’s core team, but the additional circulating supply is still expected to weigh on short-term price action as investors assess potential selling activity.

While institutional allocations are set to increase, retail traders have become increasingly active in LayerZero’s derivatives market.

CoinGlass data shows futures trading volume surged 552% over the past 24 hours to $248.65 million. Meanwhile, Open Interest (OI) increased 4.52% to $80.87 million, indicating new positions are entering the market.

The rise in both trading volume and Open Interest suggests growing speculation ahead of the token unlock.

However, sentiment appears to be shifting. Despite higher trading activity, perpetual futures funding rates have weakened.

The funding rate declined to 0.0061% from 0.0121% a day earlier, indicating demand for leveraged long positions is easing.

Lower funding rates often reflect reduced confidence among bullish traders, particularly before major token unlocks that increase circulating supply and create expectations of additional selling pressure.

The combination of rising speculative activity and weakening bullish positioning suggests investors remain cautious heading into the unlock event.

LayerZero price prediction: Bears remain in control

From a technical perspective, LayerZero continues to trade within a well-established downtrend.

The token remains below its 50-day Exponential Moving Average (EMA) near $0.957, reinforcing bearish momentum.

The outlook also remains negative following the death cross formed in late April, when the 50-day EMA crossed below the 200-day EMA—a signal often associated with sustained downward trends.

Technical indicators continue to support the bearish outlook. Relative Strength Index (RSI) reads around 36, indicating strong bearish momentum while remaining above oversold territory.

Both the MACD and signal lines remain below zero and continue trending lower, suggesting downside momentum persists.

These indicators show sellers continue to dominate despite increased derivatives activity.

The most important downside support remains at $0.734, the major structural support and Fibonacci anchor.

A decisive break below this level could accelerate selling and expose the next technical target at $0.532. Reaching this level would represent roughly 25% downside from current prices.

If buyers manage to regain momentum following the token unlock, the first resistance zone sits around $0.945 (23.6% Fibonacci retracement), with another hurdle at $0.957 (50-day EMA).

A daily close above this resistance cluster would reduce immediate bearish pressure and could open the door for a move toward $1.325.

However, reclaiming the 50-day EMA remains necessary before a broader recovery can develop.

The post ZRO slides 4% ahead of 25.7 million token unlock appeared first on CoinJournal.

Key takeaways

• Pi Network (PI) is showing signs of recovery after several days of consolidation and easing selling pressure.
• Rising Open Interest suggests speculative traders are positioning for a potential rebound.
• The upcoming Stellar Protocol v25 mainnet upgrade and improving market sentiment could support PI’s recovery.

Pi Network (PI) posted modest gains on Friday after three consecutive sessions of sideways trading, suggesting that selling pressure may be easing following a sharp correction earlier this month.

Although the token remains in a broader downtrend, increasing derivatives activity and deeply oversold technical indicators are fueling speculation that PI could be preparing for a short-term rebound.

Speculative demand begins to strengthen

Pi Network remains one of the cryptocurrency market’s most speculative community-driven assets, making its price particularly sensitive to shifts in investor sentiment.

After a steep sell-off earlier this month, optimism has started to improve as broader market risk appetite stabilizes.

Another potential catalyst is the Stellar Protocol version 25 mainnet upgrade, scheduled for July 22, which could support sentiment across ecosystems connected to Stellar-based infrastructure.

Meanwhile, derivatives data points to growing speculative interest. According to CoinAnk, Pi Network Open Interest increased to $10.73 million on Friday from $10.44 million a day earlier. 

Open Interest has steadily recovered from $9.11 million recorded on Monday, indicating that traders are gradually returning to the market after the recent correction.

The increase suggests retail investors are beginning to position for a possible recovery, although conviction remains relatively modest.

PI remains oversold despite stabilizing price action

From a technical perspective, Pi Network continues to trade below the key $0.0800 resistance level, leaving the broader trend bearish.

However, the token has managed to hold near the lower boundary of a falling channel, where technical support is reinforced by the 161.8% Fibonacci extension level at $0.06793.

Holding above this area could provide the foundation for a relief rally if buying momentum continues to build.

Technical indicators are beginning to show early signs that the recent decline may be losing momentum.

The Relative Strength Index (RSI) has fallen to around 17, placing PI deep in oversold territory. While oversold readings do not guarantee a reversal, they often indicate that selling pressure has become stretched.

At the same time, the Moving Average Convergence Divergence (MACD) remains below the zero line but is showing signs of weakening bearish momentum, suggesting sellers may be losing control.

If PI extends its recovery, the first resistance level is the 127.2% Fibonacci extension at $0.09613.

A stronger rebound would then face resistance near $0.110, where the upper boundary of the falling channel could limit further gains unless broader market sentiment improves.

On the downside, the 161.8% Fibonacci extension at $0.06793 remains the most important support level.

A decisive break below that area could expose the 227.2% Fibonacci extension near $0.01463, significantly increasing downside risk.

For now, Pi Network’s deeply oversold technical setup, combined with rising Open Interest and improving market sentiment, suggests that a short-term recovery remains possible, although the broader trend will remain bearish until key resistance levels are reclaimed.

The post PI eyes rebound as Open Interest rises and oversold conditions deepen appeared first on CoinJournal.

Key takeaways

• Solana (SOL) is down nearly 2% over the past 24 hours after failing to break above the crucial $78 resistance.
• Spot Solana ETFs have recorded net outflows, signaling weaker institutional demand.
• A break below $74 could send SOL toward $64, while a breakout above $78 may trigger a rally to $90.

Solana (SOL) extended its recent pullback on Friday, falling nearly 2% over the past 24 hours as buyers once again failed to overcome the key resistance level at $78.

Although cooling U.S. inflation briefly boosted risk appetite earlier this week, the rally lacked enough momentum to sustain a breakout. At the same time, declining trading volumes and renewed ETF outflows have added to the cautious outlook.

Trading activity cools after recent rally

Market participation has slowed noticeably in recent sessions. Daily trading volume has fallen from a short-term peak of approximately $4 billion on July 2 to around $2 billion, suggesting reduced buying interest following the recent rebound.

The inability to break above the $78 resistance despite improving macroeconomic sentiment indicates that bullish momentum may be weakening.

Institutional sentiment has also softened. According to CoinGlass, Solana-focused exchange-traded funds (ETFs) have recorded approximately $700,000 in net outflows this week.

The reversal contrasts with recent weeks, when Solana ETFs attracted more than $1.1 million in inflows and accumulated nearly $3 million since the beginning of the month.

The shift suggests institutional investors remain cautious as uncertainty surrounding interest rates and broader market conditions continues to weigh on risk assets.

Despite weaker price action, Solana’s network fundamentals continue to improve.

Data from Santiment shows that daily active addresses (DAAs) have continued to climb, indicating growing user activity across the network.

Notably, the 30-day moving average of daily active addresses has crossed above the 50-day moving average, with the gap widening in recent days.

Historically, similar crossovers have preceded significant price movements for Solana, although they do not indicate whether the move will ultimately be bullish or bearish.

The increase in active wallets suggests investors are positioning ahead of the token’s next major directional move.

SOL faces a critical technical crossroads

Technically, Solana remains trapped below the important $78 resistance level. The repeated rejection at this price has reinforced it as a key barrier that bulls must overcome before a sustained recovery can develop.

On the downside, the immediate focus shifts to the ascending trendline support near $74. This level represents a crucial defense for buyers.

If $74 fails to hold, Solana could accelerate lower toward the next major support around $64.

Momentum indicators are beginning to favor the bears. The Relative Strength Index (RSI) has slipped to around 49, falling below its signal line and indicating weakening bullish momentum. 

A move toward 40 would strengthen the bearish outlook and suggest sellers have gained greater control.

Conversely, a decisive breakout above $78 could trigger a wave of short covering, as a significant number of stop-loss orders are believed to be positioned above that level.

Such a move could accelerate buying momentum and open the door for a rally toward $90.

For now, Solana remains at a pivotal technical level, with declining institutional flows contrasting against strengthening on-chain activity. The next breakout or breakdown is likely to determine the token’s short-term direction.

The post SOL struggles below key resistance as ETF outflows weigh on sentiment appeared first on CoinJournal.