Solana's price has experienced a slight pullback, decreasing by 3.72% in the past 24 hours to $131.71, amid a broader market downturn. Despite this, indications suggest an upturn may be imminent. Solana has posted a weekly loss of 11.13% and a monthly loss of 26.85%, but its yearly return remains impressive at 691.41%.

The coin's price seems to be gearing up for a bounce as it approaches the key support level of $129.75. The relative strength index (RSI) has surged from 20 to 40 in the past hour, indicating increasing buying momentum and a potential trend reversal. However, the 30-day moving average is trending downward, suggesting persistent downward momentum in the short term.

The current market sentiment is uncertain following the US Federal Reserve's hawkish stance on inflation, leading to a "sideways summer" as the market consolidates. While some experts see this consolidation as a prelude to an upcoming altcoin season, others believe Solana's substantial market cap of $60.85B may limit its potential for substantial gains.

However, the Solana ecosystem is thriving with opportunities, particularly with Solana-based meme coins gaining attention. Sealana, a new Solana-based meme coin, has raised over $5 million in its presale and presents a promising opportunity for early adopters before its exchange listing. With its unique persona and satire, Sealana has the potential to stand out in the market and offer higher gains than Solana.

As the presale enters its final days, the window for investment is rapidly closing. Will Solana bounce back from the $130 support level, or will the market consolidate further? Only time will tell.