Solana Recovers to $147 After Intraday Whiplash, Key Support at $142 Holds Firm
Solana (SOL) experienced a turbulent trading session, plunging over 8% from $154.48 to $141.75 before reclaiming ground and stabilizing near $147. The sharp selloff triggered a fast-paced liquidation flush, but strong buyer demand near $142 helped SOL recover swiftly.
Market Snapshot
- High-to-Low Move: SOL lost $12.73 intraday (-8.24%), bottoming at $141.75 before buyers stepped in.
- Capitulation Candle: Heavy volume (3.14M–3.37M) during the 19:00–20:00 UTC window suggests panic selling or liquidation.
- Flash Crash Zone: A brief dip to $144.93 at 01:20 UTC was immediately reversed on a 24.5K volume surge.
- Support Reaffirmed: The $142 zone continues to act as a magnet for demand, forming a potential local floor.
- Recovery Momentum: SOL currently trades at $147.40, with low-volume consolidation pointing to a reset in direction.
Technical Take
Despite the sharp drop, Solana preserved its short-term bullish structure. A higher low has now formed relative to late-May price action, suggesting underlying strength. As long as $142 holds, SOL appears poised for another retest of the $150–$152 resistance band.
If momentum returns, traders will eye a potential breakout toward $155+. However, failure to hold above $144 could reignite downside pressure.
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