SOL dips below $140 as market sentiment remains bearish

Key takeaways

  • Solana is down by less than 1% and is currently trading below $140.
  • Canary Capital and Fidelity announced the launch of their spot Solana ETFs SOLC and FSOL on Tuesday.

SOL down 1% despite positive fundamentals

SOL, the native coin of the Solana blockchain, is down by less than 1% in the last 24 hours and is currently trading below $140. This bearish performance comes despite Canary Capital and Fidelity announcing the launch of their spot Solana Exchange Traded Funds (ETFs), SOLC and FSOL, on Tuesday.

The news boosted market sentiment amid growing institutional investors. However, it didn’t translate into a positive rally for SOL, as the coin continues to eye the weekly support level around $128. 

Fidelity became the fourth asset manager to launch an SOL ETF and also added a staking feature to the fund. This latest development indicates growing institutional interest in Solana-based investment products, which could become a bullish outlook for SOL in the long term. 

SOL could retest the $128 low as bearish momentum persists

The SOL/USD daily chart is bearish and efficient as Solana has underperformed over the past few days. SOL faced rejection at the daily level of $168.79 last week and has lost over 22% of its value since then. At press time, SOL is trading above $136 per coin after hitting the $144 level on Tuesday. 

SOL/USD Daily Chart

If the current support level at $128.68 continues to hold, SOL could extend the recovery toward the next major resistance and TLQ level at $160. The RSI on the daily chart currently stands at 34, indicating that the bearish trend remains strong.

However, if SOL’s daily candle closes below $128.68 over the next few hours, the coin could extend its decline toward the next daily support at $118. Currently, the trend and order flow are negative, indicating that sellers are in control.

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Bitcoin ATMs appear in Nairobi malls as Kenya’s new crypto law faces early compliance test

  • They appeared soon after the Virtual Assets Service Providers Act of 2025 took effect.
  • CoinATMradar currently lists two Bitcoin ATMs in Kenya.
  • The Central Bank of Kenya and the Capital Markets Authority say no VASP is licensed yet.

Bitcoin ATMs have surfaced across major shopping malls in Nairobi, only days after Kenya activated its first comprehensive crypto law, creating an unexpected test for regulators who have not yet authorised any crypto provider to operate.

The machines, branded Bankless Bitcoin, appeared beside traditional bank kiosks and offered cash to crypto services to shoppers.

Their arrival coincides with the early phase of Kenya’s Virtual Assets Service Providers Act of 2025, which came into effect on 4 November and set the first formal rules for crypto businesses.

Gaps in licensing

Local outlet Capital News confirmed that multiple malls in Nairobi had new machines installed, expanding beyond earlier attempts to introduce crypto ATMs in Kenya.

In 2018, The East African reported that BitClub deployed Bitcoin ATMs in the city, although the machines never reached mainstream retail spaces and adoption remained limited.

Kenya currently has two reported Bitcoin ATMs, making the latest installations notable for their placement in high-traffic commercial environments.

Regulators signal caution

The new law assigns oversight responsibilities to two regulators. The Central Bank of Kenya will handle payment and custody functions, while the Capital Markets Authority will regulate investment and trading activity.

However, the regulations required to begin licensing crypto firms have not yet been issued.

In a joint notice released on Tuesday, the Central Bank of Kenya and the Capital Markets Authority stated that they have not licensed any VASP to operate in or from Kenya under the new Act.

They also warned that companies claiming authorisation are doing so without approval.

The National Treasury is developing the regulatory framework that will decide when licensing can begin, placing operators in a temporary environment where the law exists but permissions do not.

This creates a visible gap. Bitcoin ATMs are entering public spaces even as regulators tell the public that no provider has met the requirements laid out in the law.

The contrast places pressure on authorities to clarify enforcement and could shape how crypto firms approach compliance in the near term.

Informal use grows

The spread of Bitcoin ATMs into high end malls highlights Kenya’s evolving crypto landscape.

Capital News reported that Bitcoin usage has long been active in lower income neighbourhoods such as Kibera, where residents use BTC as a form of banking in areas with limited access to formal financial services.

People have relied on crypto to store value without extensive documentation or traditional banking infrastructure.

The shift from informal areas to upscale malls suggests that consumer interest is expanding even while regulatory conditions remain unsettled.

The coexistence of visible infrastructure and incomplete licensing rules places Kenya at an early crossroads as it moves from a largely informal crypto market to a regulated one.

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Litecoin Price Forecast: Weak demand could push LTC below $90

Key takeaways

  • LTC is down 1.7% in the last 24 hours and is trading above $93 per coin.
  • The bearish performance comes amid weakening demand.

LTC stays below $100

The cryptocurrency market has underperformed earlier this week, but the selling pressure has subsided in the past few hours. Litecoin is currently down by 1% in the last 24 hours and is currently trading above $93, down from the $95 weekly high it reached a few hours ago.

Despite the recent price action, the fundamentals for Litecoin remain neutral. The total supply of LTC coins in profit dropped to 57%, creating a heavy selling activity, with investors posting a combination of loss realization and profit-taking in the past few days.

According to the data obtained from Santiment, the distribution comes mainly from investors who purchased the cryptocurrencies over the last two months. 

This weakness is also significant across US spot Litecoin exchange-traded funds (ETFs) as they have failed to attract demand. 

Data obtained from SoSoValue shows that since the launch of the Litecoin ETFs in October, they have attracted a cumulative net inflow of $7.26 million, according to SoSoValue data. The only spot Litecoin ETF available in the US is Canary’s LTCC.

On the derivatives market, Litecoin’s funding rates flashed negative twice over the last two days. This indicates short traders are gaining momentum in the Litecoin market. Litecoin’s Open Interest (OI) has recovered slightly to 5.57 million LTC but remains far from pre-October 10 leverage-flush levels of 8.80 million LTC.

LTC could retest the $90 support level

The LTC/USD daily chart remains bearish and inefficient as the coin has lost 8% of its value in the last seven days. Litecoin dipped to the $90.2 support level on Tuesday but quickly rallied to the $95.4 resistance area. It failed to overcome the $95 resistance area and is now trading above $93.66. 

LTC/USD Daily Chart

The Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) are below their neutral levels, indicating that the bears are currently in control of the market. 

If the bullish recovery continues, LTC could rally above the $116 efficiency level over the next few hours. However, LTC could drop to the $80 support level if the bulls fail to defend the $90.2 region.

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