Solana Drops 4.9% Amid Alameda Unlocks and $336M ETF Inflows
Solana fell 4.9% to $153.49, breaking below the key $156 support level amid ongoing Alameda Research token unlocks. Despite $336 million in weekly institutional ETF inflows, selling pressure intensified. Alameda unlocked 193,000 SOL tokens worth around $30 million as part of its bankruptcy vesting schedule. Trading volume rose 17% above the weekly average, confirming active selling. Technically, Solana has formed a descending channel targeting the $152.80 demand zone, with immediate support at $150 and resistance at $156 and $160. Traders should watch for consolidation and a potential bounce toward $160–$165 if support holds. The clash between structured token releases and ETF inflows will shape near-term Solana price action.
Bearish
The news is bearish. Solana’s price has broken below a key support level amid large token unlocks from Alameda Research, adding substantial selling pressure. Although $336 million of ETF inflows reflect strong institutional interest, the immediate oversupply from the release of 193,000 SOL tokens has outweighed demand. Elevated trading volumes confirm active distribution rather than passive accumulation. Historically, significant vesting unlocks often drive short-term declines, as seen in similar Bitcoin ETF launch periods. In the long term, institutional accumulation may provide a floor, but near-term technical structure favors further downside unless the $152.80 demand zone holds and volume normalizes.