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

Solana's price fell 4.9% to $153.49, driven by selling pressure despite $336 million in institutional ETF inflows. A significant factor was the release of 193,000 SOL tokens by Alameda Research, valued at approximately $30 million, as part of ongoing token unlocks. This breakdown occurred as SOL dropped below the critical support level of $156, accelerating towards the $152.80 demand zone during a period of heightened trading volume. The market reaction indicates a shift toward active selling rather than passive holding, largely attributed to Alameda's systematic token releases, which create consistent selling pressure. However, institutional demand remains strong, with ongoing interest in Solana spot ETFs, indicating possible accumulation at lower price levels. Technical indicators show a bearish momentum with resistance levels at $156 and $160, while a bounce could push toward the $160-$165 range if the $152.80 support holds.

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