Solana (SOL), the world’s sixth-largest cryptocurrency by market cap, is gaining massive attention from Binance traders. Recently, data from the on-chain analytics firm Coinglass revealed that 79% of top traders on Binance are going long on SOL, despite the bearish market sentiment.
Source: Coinglass
Solana (SOL) Price Action and Upcoming Levels
According to expert technical analysis, SOL appears bearish despite the ongoing price recovery. On April 6, 2025, SOL broke down from its prolonged key support level of $115 and also closed a daily candle below that level, a level it had held since March 2024.
Source: Trading View
This breakdown has pushed SOL into an extremely bearish phase. However, the ongoing price recovery appears to be a retest of the breakdown level.
Based on the recent price action and historical momentum, if SOL remains below the $115 level, there is a strong possibility it could decline by 30% and reach the $77 level in the near future.
Source: Trading View
This bearish outlook is strongly supported by momentum indicators such as the Relative Strength Index (RSI) and the 200-day Exponential Moving Average (EMA) on the daily time frame.
Current Price Momentum
As of writing, SOL was trading near $107 and had registered a price drop of over 1% in the past 24 hours. Meanwhile, the asset showed a strong recovery, having hit a low of $95.6 during the Asian market session. Amid this significant price fluctuation and market volatility, SOL’s trading volume has skyrocketed by 185% during the same period.
$140 Million Worth of SOL Outflow
While examining the on-chain metrics, it appears that whales, investors, and long-term holders have seized the opportunity to accumulate SOL at the current price level, according to the on-chain analytics firm Coinglass.
Source: Coinglass
Data from spot inflow/outflow reveals that exchanges have seen an outflow of approximately $140 million worth of SOL over the past 24 hours. This substantial outflow suggests potential accumulation and could lead to buying pressure.
However, due to the prevailing bearish sentiment, a strong upside rally may be difficult to achieve.
United States President Donald Trump is not giving up on his plans to make nations like China accept the terms of his reciprocal tariffs, which he unveiled last week. Countries have started announcing counter-tariffs, exacerbating the long-drawn trade war that has continued to affect the crypto market.
President Donald Trump Issues New Warning to China
As President Donald Trump revealed and broadcasted on X, the US will levy an additional 50% tariff on China if the Asian giant fails to lift its 34% counter tariff. After Trump’s reciprocal announcement on April 2, China responded with a 34% level.
This move was unacceptable to President Donald Trump, who said China has already imposed a record-setting tariff. The US President’s ultimatum to China was April 8, and if the nation fails to comply, it will respond in kind with 50% of the import charges.
In his post on Truth Media, the US President noted that his administration will continue to negotiate with other countries that have reached out. However, he said all negotiations with China would be halted immediately if China’s levy on US imports were not lifted.
Mexico, Canada, Japan, and the European Union are among the nations looking for a renewed deal with the US.
Impact of Tariff Moves on Crypto Market
As seen in the crypto market over the past few weeks, the sentiment around the trade war has sparked concerns about nascent asset classes. As reported earlier by CoinGape, Bitcoin crashed to $74,00 on concerns that more tariffs and economic instability are in view.
The same bearish outlook is seen for all the altcoins, from XRP to Solana and Cardano. Beyond this outlook, the current trend suggests no aspect of the market is safe, with intense volatility still at play.
Considering the nature of stock market losses, the industry is now very sensitive to fake news. Earlier, BTC’s price rebounded to $80,000 on a fake update that President Donald Trump had suspended the tariff implementation for 90 days. If the countries do not reverse the trend, more fluctuations may come.
Bitcoin and Altcoin Price Outlook
At the time of writing, the price of Bitcoin has pared off some of its losses and was trading at $78,961.40, down by 1.6% in 24 hours. Within this period, the coin has moved between two price extremes, including a low of $74,436 and a high of $81,119.06.
Altcoins are also also staging a comeback with Ethereum trading for $1,556.42 atop a 7.01% decline. XRP, Dogecoin and Solana are also down by 6.04%, 5.11% and 3.31% as of writing.
Market experts like Arthur Hayes have predicted Bitcoin dominance to hit 70% with the market likely to stage a rebound. If achieved, altcoins may also stage a sustained rebound moving forward.
Canary Capital, an asset management firm, has registered a statutory trust for a Sui (SUI) exchange-traded fund (ETF) in Delaware.
The filing, submitted to the Delaware Division of Corporations on March 6, hints at the firm’s intention to launch an SUI ETF.
Canary Capital Takes First Step Towards SUI ETF
The registration is the first step before submitting an S-1 form to the US Securities and Exchange Commission (SEC). Additionally, the firm will need to submit a 19b-4 filing to the SEC through the exchange where the ETF will be listed.
Amidst this, a Sui Network ambassador outlined the potential market impact of a SUI ETF, drawing comparisons to the success of Bitcoin (BTC) and Ethereum (ETH) ETFs. According to the ambassador, a SUI ETF could bring similar benefits.
“Even a slice of the interest that BTC/ETH ETFs saw could significantly boost Sui Network liquidity and market cap,” the post read.
He explained that SUI ETF could boost liquidity by offering a new trading platform for both crypto and traditional investors. Moreover, by holding actual SUI tokens, the ETF could reduce the circulating supply, potentially driving up the price.
The increase in liquidity and price would boost ecosystem growth, making it attractive for developers and institutional investors looking to capitalize on this momentum.
“Bitcoin and Ethereum are now “established.” A newer network like Sui offers higher risk but possibly higher reward, akin to investing in an emerging tech stock,” he wrote.
Nonetheless, the ambassador noted that institutions may be cautious with an SUI ETF. He cited volatility, liquidity, and regulatory uncertainty as potential concerns.
Furthermore, he claimed that regulatory approval may be difficult, as the SEC has scrutinized many altcoins as potential securities. Thus, he believes SUI could face the same fate, requiring market surveillance and clarity on its status. However, he acknowledged that these regulatory procedures could become more streamlined with President Trump now in office.
Bitcoin’s (BTC) move toward $125,000 is causing waves throughout the crypto market, with Shiba Inu (SHIB) and Rexas Finance (RXS) emerging as top competitors for spectacular gains. While SHIB’s recent surge resulted from President Donald Trump’s recent announcement on US crypto reserve assets, Rexas Finance is upsetting the asset management business by bringing unprecedented liquidity to previously illiquid markets. Investors are closely monitoring both assets, anticipating significant increases.
Shiba Inu Soars Amid Trump’s Latest Announcement
Shiba Inu retraced 11% in 24 hours after rising 20%, staying above $0.000012. The recent surge followed Donald Trump’s declaring the opening of a crypto reserve with big-league tokens, including Bitcoin, Ethereum, Solana, Ripple, and Cardano.
Despite the harsh reversal, technical indications suggest a favorable outlook. Analysts believe a breach above $0.000015 might boost SHIB to $0.000017, and some investors anticipate a 500% breakthrough to $0.000020 and beyond. Crypto analyst Crypto Elites highlighted a cup-and-handle pattern that, if confirmed, may spark a 12x surge to $0.000183. As the market prepares for a bullish breakout, Shiba Inu is poised for a giant boost in the coming weeks.
Rexas Finance (RXS) Introduces Liquidity to Illiquid Markets, Setting the Stage for a Massive Rally
Rexas Finance (RXS) is disrupting asset management by addressing a long-standing issue: a lack of liquidity in historically illiquid sectors. RXS uses blockchain to facilitate tokenizing real-world assets (RWAs) like real estate, commodities, and financial instruments, giving users access to a trillion-dollar market.
Rexas Finance’s fundamental function is to simplify asset tokenization. For example, by purchasing RXS-backed tokenized shares, an investor can now own a portion of a $10 million commercial property for just $100. This kind of fractional ownership enables small-scale investors to access high-value asset markets previously only available to institutions.
To achieve this, Rexas Finance has built a rich tokenization ecosystem and DeFi features that boost liquidity, accessibility, and investment returns. The Rexas Token Builder and QuickMint Bot simplify token creation without technical experience. Meanwhile, the Rexas Launchpad offers early-stage investment opportunities in new cryptocurrency projects, and the Rexas Treasury helps investors maximize returns through automated yield farming. This novel technique has created tremendous investor interest, hastening the RXS presale to near completion. In its last step (step 12), 91% of the allocated tokens have already been sold, indicating increased FOMO among investors. RXS is selling at $0.20, up 566% from $0.03 in Stage 1.
The presale, which sold 455 million tokens and garnered $47 million, is expected to be one of 2025’s most significant achievements. Rexas Finance also holds a $1 million giveaway to reward early investors. With over 1.5 million entries received so far, the top 20 participants will earn $50,000 worth of RXS. This event will further increase Rexas Finance’s appeal among crypto enthusiasts. The larger picture of Rexas Finance revolves around its upcoming exchange listings.
On June 19, RXS will debut on at least three of the top ten global crypto exchanges, enhancing liquidity, market exposure, and institutional interest. The initial listing price is $0.25, and analysts predict a potential 100,000% post-launch jump due to rising adoption and exchange-driven demand.
Conclusion: SHIB and RXS Poised for Explosive Gains
Shiba Inu (SHIB) and Rexas Finance (RXS) are poised for significant gains as Bitcoin (BTC) nears $125,000. With SHIB seeing a 300% spike in whale demand and RXS revolutionizing real-world asset tokenization, both assets are expected to experience significant price changes. The Rexas Finance presale is practically sold out (9% to go), and its June 19 market debut will likely cause a price explosion. This is the last chance for investors to secure RXS at presale prices before it goes public—act immediately before the opportunity passes!
For more information about Rexas Finance (RXS) visit the links below:
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Bitcoin’s (BTC) move toward $125,000 is causing waves throughout the crypto market, with Shiba Inu (SHIB) and Rexas Finance (RXS) emerging as top competitors for spectacular gains. While SHIB’s recent surge resulted from President Donald Trump’s recent announcement on US crypto reserve assets, Rexas Finance is upsetting the asset management business by bringing unprecedented liquidity …
