Solana Price Analysis: Slides 5% to $145 as Technical Breakdown Overshadows ETF Momentum

Solana (SOL) experienced a significant drop of 5.24% in value, declining from $153 to $145.43, breaking below the critical $150 support level. The decline occurred alongside a notable increase in trading volume, which surged 13.23% above weekly averages as institutional selling took precedence. The decline accelerated in the last hours of trading, driven by stop-loss orders, leading to continuous printing of fresh lows in hourly closes. Despite the technical breakdown, positive inflows into spot Solana ETFs persisted, with Bitwise's BSOL reaching $369 million. However, daily active addresses fell to a 12-month low of 3.3 million, indicating a decline in network activity, particularly from the early-year peak of 9 million. The outlook shows further potential weakness, with the next major support zone estimated between $142 and $144, while strong resistance has developed near $157.25. The existing market conditions suggest a bearish trend likely to continue if selling pressure persists.

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