Institutional Selling Triggers 5% Plunge in Solana During Midnight Session

Solana (SOL) slipped beneath the key $172 support level amid heavy selling pressure from institutional investors, resulting in a roughly 4.5% drop from its stable trading range near $177.

This downturn reflects growing unease across global markets amid geopolitical tensions and economic instability, prompting digital asset holders to reconsider exposure to riskier investments like cryptocurrencies.

Despite the pullback, Solana’s platform continues to advance. The recent move by R3 to partner with Solana for blockchain-based tokenization of real-world assets underscores sustained institutional interest in the network’s capabilities.

Technical Highlights:

SOL’s price retreated from the $177 range to test support near $170.41.
A surge in trading volume peaked at 1.26 million units during the midnight session as prices fell below $172.
Key support levels between $170.67 and $171.66 have remained intact so far.
Attempts to rally back to around $174 encountered resistance, capping gains.
Over the past hour, SOL declined from $172.93 down to $172.00.
The sharpest drop came at 08:00, briefly touching $171.92 before a modest bounce.
Intraminute volume reached 29,372 units, signaling institutional selling pressure.
A brief support range between $171.80 and $171.85 was observed around 07:30.
A short recovery pushed prices up to $172.35 at 07:36 before consolidation resumed.
SOL is currently stabilizing just above the $172 support as traders await the next move.