Solana (SOL) faced intensified selling pressure following several unsuccessful breakouts near the $158–$159 resistance zone, resulting in a sharp downturn accompanied by heavy trading volume.
During the 13:00 hour, bearish momentum accelerated as volume surged past 1.1 million tokens, pushing SOL below the critical support band of $153.10–$153.30. This breakdown triggered further losses despite a brief rebound.
Currently trading just above $153, SOL is showing signs of weakness with a series of lower highs developing over recent sessions. Analysts caution that unless the price can reclaim the $153.30 level, further downside movement is likely.
If the decline continues, the psychological $150 level will serve as the next key support to watch.
Technical Summary:
- Resistance near $158–$159 held firm, sparking a 4.48% drop from recent highs.
- Heavy volume sell-off pushed SOL below $153.10–$153.30 support, signaling bearish momentum.
- In the final trading hour, SOL slid from $154.53 to $151.89, a 1.7% intraday loss.
- Significant selling at 13:40 (36,000 tokens) and 13:48 (59,000 tokens) hastened the downward trend.
- Price has since bounced to $153.81, with tentative support around $152.50.
- The pattern of lower highs combined with sustained selling pressure suggests continued short-term weakness.
- A daily close above $153.30 is necessary to indicate potential trend stabilization.
