Solana Faces Bearish Pressure, Traders Eye Altcoins Like Hyperliquid and XYZVerse Amid Market Downturn

Solana (SOL) is currently facing significant bearish sentiment, with several technical indicators and whale movements pointing towards potential further declines in price. Bearish signals include a negative funding rate, weak momentum indicators such as a subdued RSI and MACD, and the SOL price struggling below key Fibonacci retracement levels. Notably, major holders have transferred profits from staking activities to exchanges, while still retaining positions in derivative staking tokens like JitoSOL, reflecting only partial confidence. The ongoing negative trend indicates caution for traders, with high risk for SOL holders as both derivative and technical analyses tilt bearish. In response to these developments and in search of higher returns, crypto traders are increasingly shifting their attention from established coins like Solana to emerging projects such as Hyperliquid and XYZVerse. These altcoin platforms are being highlighted by market observers for their potential to deliver substantial returns, reportedly up to 380%. This shift in sentiment is driven by Solana’s recent underperformance, broader macroeconomic headwinds, and evolving trading patterns. Overall, traders are diversifying into alternative tokens amid Solana’s weakness, increasing speculative interest in the broader altcoin market.