Solana Price Analysis: SOL Drops 4.9% Breaking Below Key Support

Solana (SOL) experienced a significant drop of 4.9%, falling to $153.49 despite witnessing $336 million in institutional ETF inflows. The decline is attributed to a wave of selling pressure following the release of 193,000 SOL tokens valued at around $30 million by Alameda Research, part of an ongoing token unlock program initiated post-bankruptcy. Investors noted that this selling trend intensified after the token's critical support level at $156 was breached. The increase in trading volume, 17.25% above the weekly average, highlighted active repositioning in the market. Analysts indicate that while institutional demand remains strong, driven by continued ETF inflows from major financial institutions, the systemic token releases create predictable selling pressures. As SOL aims to stabilize, primary support is established at $152.80, and traders should monitor for bounces around this level. A failure to maintain this could accelerate declines toward $145, while overcoming resistance at $160 may offer a potential rebound.

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