Market news is changing rapidly, technical indicators are facing a critical turning point, Solana is in an important strategic position, and tonight's trend may set the tone for the future.

Market Structure Analysis
The intensification of geopolitical risks has led to a rise in global risk aversion. Israel's military actions against Iran have triggered significant turbulence in the cryptocurrency market, resulting in the market losing approximately $240 billion in value in a single day. The price of Solana subsequently fell to $141.12, a decrease of 3.4%, while $136.5 has become the last line of defense for the bulls.

The current dominant position of Bitcoin in the market has significantly increased, with a market share of 64.24%. Funds are flowing in large amounts from other cryptocurrencies to Bitcoin. This puts considerable pressure on the ratio of Solana to Bitcoin, making it difficult for Solana to independently break out into a strong market in the short term.

It is worth noting that the Solana ecosystem is set to launch the "Solana Summer" event on June 20, and new projects within the ecosystem are expected to explode, with institutional holdings also increasing by 8%. Historical data shows that the volatility during the same period may increase by 50%, and these factors could become catalysts for a rebound.

Another important variable is the progress of ETFs: VanEck's spot Solana ETF code VSOL has been launched on DTCC, and negotiations with regulators on the staking terms have entered the final stage, with market predictions for approval probability rising to 76%. If approved, the price of Solana is expected to challenge the $200 mark.

[Technical challenges ahead]
From a technical analysis perspective, $135.57 is a key support level for Solana. The Bollinger Bands indicator shows an upper band at $168.9, a middle band at $152, and a lower band at $135.57. The current price is struggling at the lower band position, and if it breaks down, it may continue to decline to $130.

The MACD indicator shows that DIF-2.26 has crossed below DEA-1.89. Although the green bars have shortened to -0.73, indicating that the downward momentum has eased, there is still no clear reversal signal. Caution is still required for long positions before a golden cross forms.

On the 4-hour chart, Solana has formed a descending wedge consolidation that has lasted for a month. If it can break through the resistance at $152, it may trigger a reversal trend, with a target price of $187; however, if it breaks below the support at $135.57, it may further dip to the $125 area.

The current market is experiencing intense long-short battles, and Solana is at a crossroads of technical and fundamental factors. Investors need to closely monitor the performance of this key price level.