Despite Rising Institutional Interest, SOL Falls Below $150 Following Heavy Selling

Solana Slips Below $150 as Sell-Off Intensifies, but Institutional Outlook Remains Bullish

Solana’s SOL token tumbled to $149.46 on Tuesday following a sharp overnight sell-off, shedding gains from earlier in the week. Despite the pullback, some institutions continue to position Solana as a long-term alternative to Ethereum.

SOL dropped 4.24% over the past 24 hours, sliding from a daily high of $158.54 to a low of $148.68, with significant selling pressure breaking key technical support at $155. The drop triggered a surge in trading activity, with more than 2.7 million SOL traded during peak hours.

The token has since entered a consolidation phase near the $150 level, though volatility remains elevated. Analysts are now watching to see whether SOL can hold the $148–$150 support zone or continue trending lower.

Despite the near-term technical weakness, institutional sentiment remains upbeat. Investment bank Cantor Fitzgerald this week began covering three publicly listed companies—DeFi Development Corp (DFDV), Sol Strategies (HODL), and Upexi (UPXI)—all of which hold SOL on their balance sheets. Each received an “overweight” rating, with analysts citing Solana’s strong developer momentum and superior throughput compared to Ethereum.

Cantor’s report noted that Solana is seeing faster technical improvements and developer growth than Ethereum, positioning it as a credible long-term rival—even though ETH still maintains a market cap more than 2.5 times that of Solana.

For now, traders remain cautious. While SOL holds above last week’s support zone, a break below $148 could open the door to further downside.

Technical Breakdown

7.0% drop in SOL-USD from $158.804 to $147.746 over 24 hours
Sell-off accelerated between 22:00 and 00:00 UTC, breaking the $155 support on strong volume
Post-drop consolidation in a tightening range between $151–$154, with resistance forming at the previous support band
Spike in volume (~150,000 SOL) caused a dip from $153.118 to $152.680 at 07:57 UTC
Final hours showed low-volatility range between $152.680 and $153.400, signaling indecision ahead of the next move