The analyst provides an update on Solana (SOLUSDT), noting it's down 21% since last Friday. The overall crypto market isn't looking great, with altcoins losing a daily uptrend, 7-day rolling VWAP, and 30-day rolling VWAP. The analyst believes SOLUSDT is closer to a local bottom than the top. The analyst mentions major news today with the PCE price index at 12:30 and considers watching the Bitcoin video for further insight. The analysts notes that TVL is down to $10.8 billion, the same as late August. Fundamentals are fine as the TVL and trading volumes are ok, and the ETF is still bullish long term. Short-term, SOLUSDT has lost the daily uptrend, 7-day rolling VWAP, and 30-day rolling VWAP. The analyst is looking at the 3-day time frame and notes it can still be saved, holding the value area high since March 2024, holding the 90-day rolling VWAP and the uptrend, noting between 180 and 200 is strong support. The analyst expects a spike down lower, then support around 180 to 185, and then a bounce into the high liquidity zone from 205 to 210. From there the analyst is predicting long-term consolidation.