Solana (SOL) Dips Below $150 as Large Exchange Inflows Spur Selling Pressure
Solana’s price declined 5.2% in the last 24 hours, breaking through the key $150 support level amid increased selling activity.
The sell-off was fueled by more than 3 million SOL tokens moving onto centralized exchanges over three days, representing approximately $468 million in potential sell volume. This large influx heightened market pressure and contributed to the downward move.
Despite strong network fundamentals—with over 100 million transactions processed and 7 million daily active addresses—SOL’s price failed to hold above the psychological $150 mark. The divergence between on-chain performance and market sentiment highlights short-term challenges.
Technically, SOL traded in an $8.19 range, from a high near $157.98 to a low of $149.79. The break below $150 was accompanied by a surge in trading volume, peaking at 182,000 units. Resistance remains firm around $153, where multiple attempts to rebound have been rejected.
A descending channel pattern is forming, characterized by lower highs and lows, signaling continued bearish momentum. Traders will be watching closely to see if SOL can reclaim support above $150 to avoid further declines.
