Solana price analysis (Neutral) — 240.28 USDT (+0.44% 24h)

SOL is currently trading at $240.28, showing modest gains of 0.44% over the past 24 hours. The price is hovering just above both the 20-day SMA ($239.74) and 50-day SMA ($239.50), indicating a potential consolidation phase. The RSI at 57 suggests neither overbought nor oversold conditions, leaving room for movement in either direction. Trading volume of $368M is healthy but not explosive. Given the current technical setup, I’d recommend watching for a decisive break above $242 or below $238 to determine the next directional move. Short-term traders might consider range-bound strategies while longer-term holders should monitor broader market sentiment. Keep an eye on Bitcoin’s movements as they often dictate altcoin momentum.