Solana (SOL) Falls Below $150 Amid Surging Exchange Inflows and Selling Pressure
Solana’s price declined by 5.2% over the past 24 hours, breaking below the critical $150 support despite ongoing strong network activity.
The sell-off accelerated as over 3 million SOL tokens were transferred onto centralized exchanges within three days, leading to increased selling pressure valued at approximately $468 million. This influx sparked concern among investors and weighed heavily on the token’s price.
Although Solana’s blockchain metrics remain robust—with over 100 million transactions and daily active addresses hitting 7 million—the market price has not mirrored this strength. The disconnect highlights short-term challenges amid a bearish technical setup.
Technically, SOL traded in a range of $8.19, from a high of $157.98 to a low near $149.79. Volume spiked to 182,000 units during the drop below $150, signaling strong seller dominance. Resistance near $153 persists, with multiple failed attempts to reclaim it.
A descending channel pattern with lower highs and lows has formed, underscoring the prevailing bearish momentum. Unless SOL quickly recovers above $150, further downside risk remains significant.
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