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

Solana's price has declined by 4.9%, falling to $153.49 despite notable institutional support, which included $336 million in ETF inflows. The price drop is attributed to the unlocking of 193,000 SOL tokens by Alameda Research, valued at roughly $30 million. This selling pressure contributed to a technical breakdown below the $156 support level, accelerating the price decline. Despite the downturn, institutional demand appears strong, with continued inflows into Solana-related products and new holdings being reported by major financial firms. The release of tokens under bankruptcy oversight is increasing volatility as supply pressure mounts. Currently, primary support is at the $152.80 level, with traders watching for potential rebounds or further declines, particularly if the price drops below $150, which could push it toward $145. This situation illustrates a tug of war between ongoing institutional interest and predictable selling from the Alameda token unlocks.

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