Over 30 crypto firms, led by the DeFi Education Fund, are urging Congress to address the Department of Justice’s interpretation of money transmitter laws, which they say could expose non-custodial software developers to criminal liability. In a letter sent to…

‘Confusion and ambiguity’: 30 crypto firms call on Congress for clarity on money transmitter rules

Cointelegraph moderated an AI funding panel at the Web Summit conference in 
Vancouver, Canada.

Crypto Biz: AI money rush could reshape digital asset industry

Solana Foundation showcased the network&#8217;s achievements in the past quarter, 
and its dominance in app revenue.

Solana highlights 3,200 active devs, $1b+ app revenue for second straight quarter

Solana is currently testing a critical demand zone near the $150 level after 
enduring weeks of persistent selling pressure and a broader shift in market 
sentiment. The asset is now trading roughly 20% below its May high of $185, 
with recent attempts at recovery facing strong resistance. Despite holding 
above major support for now, the overall structure suggests that downside risk 
remains if market conditions don’t improve soon. Related Reading: Ethereum 
Analyst Eyes High Timeframe Close – Range Break Above $2,800 Could Be Violent 
Top analyst Efloud shared a technical analysis on X, highlighting the 
importance of tracking Solana’s response to broader Bitcoin dynamics. He noted 
that if Bitcoin (BTC) continues to consolidate sideways while Bitcoin 
dominance (BTC.D) rises, altcoins like SOL may struggle. In that case, Solana 
could continue retracing to find stronger support at mid-zones, particularly 
around the $123 and $116 levels. These price zones have previously acted as 
solid support/resistance areas and could serve as key inflection points should 
bearish momentum persist. A breakdown toward these targets would likely 
coincide with increasing BTC.D and continued investor caution in the altcoin 
market. Until then, SOL remains vulnerable within a fragile technical 
structure, and traders will closely watch for either a rebound or deeper 
correction in the coming days. Solana Holds Key Support As Analysts Eye 
Bullish Scenarios Solana is currently trading about 50% down from its all-time 
highs, with the explosive momentum seen at the end of 2024 now replaced by 
more subdued price action. The asset’s underperformance has left investors 
cautious, but many analysts remain optimistic about Solana’s potential once a 
new altcoin rally begins. For now, the focus is on holding critical demand 
zones that could determine whether SOL is gearing up for a recovery or further 
downside. According to Efloud, if Bitcoin continues consolidating sideways 
while Bitcoin dominance rises, Solana may find support at several mid-zones, 
particularly around $123 and $116. The $140 region has historically acted as a 
strong support/resistance flip, and a deviation around this level—losing it 
briefly before regaining it with strength—could present a short-term buying 
opportunity. Efloud notes that this scenario doesn’t necessarily imply that 
SOL must drop to those levels, but current market conditions—aside from 
Bitcoin—lack strong pair structures. If SOL can decisively break above the 
$168 resistance, a new leg upward could be triggered, with $230 potentially 
acting as the next major resistance zone. On the SOL/BTC pair, Efloud is 
watching for a reclaim of the 0.0015 level or a pullback toward 0.00115 for 
confirmation. Another key support sits at 0.000988 sats. Despite the current 
cooling, the structure may still offer solid opportunities for new entrants. 
If these levels hold and macro conditions improve, SOL could be setting the 
stage for a sustainable rally, ultimately leading to new all-time highs. 
Related Reading: Ethereum Mirrors Bitcoin 2017-2021 Pattern – $4,000 Is The 
Trigger Point Weekly Chart Analysis – Holding the Line Near Key Support Solana 
is currently trading at $148.33 on the weekly timeframe, showing a 3% decline 
over the past seven days. The price has dropped roughly 20% from its May high 
of around $185 and is now testing the critical $140–$150 support zone. This 
level has repeatedly acted as a pivot point in the past and could define SOL’s 
short-term trajectory. The chart shows that Solana has been unable to reclaim 
the 50-week moving average (currently near $170), which now acts as key 
resistance. A decisive weekly close above this level would open the door for a 
bullish continuation toward $185 and possibly $200. However, failure to hold 
above the 100-week moving average around $132 could lead to further downside 
pressure, with $123 and $116 as the next demand zones to watch—levels 
identified by analyst Efloud in his mid-zone scenario. Related Reading: 
Bitcoin Consolidates as Realized Profits Stay Low – No Signs Of Major Sell-Off 
Yet Volume has declined steadily over the past three weeks, signaling reduced 
participation, but also suggesting that aggressive selling is fading. If bulls 
manage to reclaim $160 with conviction, the structure remains favorable. For 
now, SOL remains in a consolidation phase, awaiting either a breakout or 
further correction as broader crypto market conditions unfold. Featured image 
from Dall-E, chart from TradingView

Solana Analyst Sees $123 And $116 As Mid-Zone Support Levels – Here’s Why

The Norwegian government has announced plans for a temporary ban on new data 
centers engaged in power-intensive cryptocurrency mining, in an effort to 
conserve electricity for other industries. Crypto Mining Generates Little for 
Local Community Norway&#8217;s government announced June 20 its intention to 
implement a temporary ban on the establishment of new data centers engaged […]

From Subsidies to Shutdowns: Norway Moves to Restrict Bitcoin Mining

The SEC likely views cryptocurrencies Litecoin, Solana, XRP, Dogecoin, Cardano 
and others as “commodities.”