Crypto Market Overview

The broader crypto market is facing slight selling pressure in the early Sunday session, with $131 million liquidated in the last 24 hours, according to Coinglass data. This comes after a major sell-off over the last week as investors took profits and reacted to macroeconomic concerns.

Solana’s Performance

Solana has mirrored this sentiment, falling for four consecutive days from a high of $168 on June 11 and testing the critical $140 support on June 13. The importance of this support level was highlighted by crypto analyst Ali, who tweeted:

> “If Solana SOL loses $140 as support, it could open the door for a deeper pullback toward $100.”
> — Ali (@ali_charts) June 15, 2025

At the time of writing, SOL was making an attempt to recover, up 0.39% in the last 24 hours to $146 after hitting a low of $144 earlier. If selling pressure persists, the focus will be on the $140 support, a key level to defend to avoid a potential 30% drop to $100. Conversely, if the rebound continues, bulls will try to push SOL above the 50 and 200 daily moving averages at $160 and $174, respectively.

ETF Optimism

On another note, analysts suggest that the U.S. Securities and Exchange Commission (SEC) might begin approving specific cryptocurrency-related exchange-traded funds (ETFs) as early as next month, potentially starting an “altcoin ETF summer.”

Bloomberg senior ETF analyst Eric Balchunas shared insights from colleague James Seyffart, stating that “ETFs that track broad crypto indexes may be approved by the SEC next month.” The report indicates that the SEC might act early on Solana and staking ETF submissions, with Balchunas predicting an upcoming altcoin ETF summer, likely led by Solana.