Solana (SOL) is currently trading at $126.59 on Wednesday, Jan. 28, marking a 2.56% increase over 24 hours, according to CoinMarketCap data. Trading volume reached $3.96 billion, up 16.35% compared with the previous day. Despite this short-term activity, SOL’s seven-day performance shows a slight decline of 1.82%, reflecting a lack of decisive momentum.

The token remains within a clearly defined two-month range, oscillating between approximately $120 and $150. Analysts say this indicates a market in balance, with neither buyers nor sellers able to dominate price action.

SOL Pullback Hits $117 Before Midpoint Recovery

In X post, Crypto analyst Umair Crypto noted that SOL recently rejected the value area high near $141, rallied to $148, and failed to secure acceptance above $150. This triggered a roughly 20% pullback toward $117 before price returned to the range midpoint near $128, coinciding with a high-volume node on the volume profile.

Resistance between $138 and $150 has consistently capped gains, reinforced by a downward-sloping moving average acting as dynamic resistance. On the downside, the $120–$121 level continues to serve as defended support, though rebounds from this area have been corrective rather than impulsive.

Momentum indicators, including relative strength, have shown lower highs despite sideways price action, signaling fading buying pressure.

Acceptance below $120 would tilt structure decisively bearish, while sustained acceptance above $150 would be required to restore a bullish trend. Until one of these thresholds is broken, probabilities favor rotational trading with limited upside.

Solana Gets Major Boost from WisdomTree Integration

While technicals remain cautious, SOL received a significant fundamental boost as WisdomTree, a New York Stock Exchange–listed asset manager, expanded its regulated tokenized funds onto Solana.

The integration allows institutional and retail investors to access the full suite of tokenized investment products, including money markets, equities, fixed income, and alternative strategies, directly on Solana via the WisdomTree Connect and WisdomTree Prime platforms.

Investors can also use stablecoins such as USDC and PYUSD for minting, managing, or off-ramping fund positions. Nick Ducoff, Head of Institutional Growth at Solana Foundation, highlighted that real-world assets on the network have surpassed $1 billion, underscoring Solana’s growing role as a scalable settlement layer for regulated digital finance.

Maredith Hannon, Head of Business Development for Digital Assets at WisdomTree, said the network’s high-speed infrastructure allows regulated products to meet institutional standards while remaining fully on-chain, demonstrating Solana’s increasing adoption beyond pilot programs.

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