Solana (SOL) continues to face mounting bearish stress as the worth slid beneath the psychological $150 stage, marking a 5.2% drop prior to now 24 hours.
The sell-off intensified through the early afternoon session with high-volume trades flooding exchanges. Analysts attribute the decline to greater than 3 million SOL tokens being transferred to centralized platforms over the previous three days, coinciding with greater than $468 million in estimated outflows.
This important shift in on-chain exercise has forged doubt on short-term restoration prospects, even because the Solana community continues to publish sturdy utilization metrics.
With over 100 million transactions and seven million day by day energetic addresses, the basics recommend long-term power, however worth motion stays disconnected from protocol efficiency.
Analysts say reclaiming resistance at $153 and stabilizing above $150 is now important to stopping a deeper retracement.
Technical Evaluation Highlights
- SOL-USD posted a $8.19 vary from the excessive of $157.98 to a low of $149.79.
- Value breached psychological assist at $150 throughout an enormous 182K quantity spike at 13:56.
- Resistance remained agency at $153.00 as repeated restoration makes an attempt failed through the late session.
- A descending channel has developed with decrease highs and decrease lows dominating the chart.
- Quantity surges at 13:39 (21K), 13:45 (66K), 13:51 (89K), and 13:56 (182K) affirm aggressive promoting.
- Modest purchase curiosity is rising round $149.50-$150.60, however draw back danger persists if bulls can’t maintain the present ground.
Disclaimer: Components of this text have been generated with the help from AI instruments and reviewed by our editorial crew to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Coverage.
