Solana Drops Below $150 After Sharp Sell-Off, Institutions Still Eye Long-Term Upside
Solana’s SOL token slipped to $149.46 on Tuesday following a steep overnight sell-off that erased earlier gains, though some institutional analysts maintain confidence in its long-term prospects as an Ethereum competitor.
SOL declined 4.24% in the past day, retreating from a high of $158.54 after heavy selling drove the price below the key $155 support level late Monday. Trading volume surged as SOL hit an intraday low of $148.68 before stabilizing near the $150 zone.
Despite recent volatility, institutional interest persists. Cantor Fitzgerald this week initiated coverage of three publicly traded companies—DeFi Development Corp (DFDV), Sol Strategies (HODL), and Upexi (UPXI)—that hold SOL as treasury assets. All received “overweight” ratings, with Cantor analysts highlighting Solana’s robust developer activity and technical performance, which they say outpaces Ethereum.
Though ETH still boasts a market cap 2.5 times larger than Solana’s, Cantor believes SOL is a viable challenger over the long term.
Technical traders now watch the critical $148–$150 zone for signs of either consolidation or renewed selling pressure.
Technical Snapshot
- SOL-USD fell 7.0% from $158.804 to $147.746 within 24 hours
- Heavy selling between 22:00–00:00 UTC, breaking $155 support on volume exceeding 2.7 million SOL
- Price consolidated between $151–$154 after the drop
- Resistance formed at the former $152–$153 support area
- Spike in volume (~150,000 SOL) briefly pushed price down from $153.118 to $152.680
- Late-session trading saw a narrow range between $153.400–$152.680, signaling market indecision
