Solana (SOL) Slides Below $150 Amid Sell-Off, With Institutional Optimism and Technical Support Under Scrutiny
Solana’s SOL token experienced a notable drop, declining over 4% in 24 hours—from $158.54 to a low of $148.68—before stabilizing near the $150 mark. The downturn was sparked by a surge in selling activity during late U.S. trading hours, breaching the critical $155 support and driving trading volumes above 2.7 million SOL. Technical indicators show SOL-USD fell 7% during the observation window, with $148–$150 emerging as a key short-term support zone. Longer timeframes suggest neutral momentum, with price remaining within prior weekly ranges and volatility subdued as most ATR levels have already been traversed. Despite recent weakness and possible short-term downside, leading institutional analysts—including Cantor Fitzgerald—remain bullish on Solana’s long-term prospects. Cantor initiated research coverage on SOL-holding companies like DeFi Development Corp, Sol Strategies, and Upexi, assigning them ’overweight’ ratings and highlighting Solana’s technological strength and rapid developer growth, positioning it as a major competitor to Ethereum. On-chain data shows more institutions now hold SOL as a treasury asset. Traders are closely watching the $148–$150 support zone for signs of either stabilization or renewed bearish pressure.
Neutral
Solana (SOL) is currently at a pivotal technical support zone after a steep decline, with short-term downside risks present if $148–$150 does not hold. While technical indicators suggest possible stabilization or further pressure, the overall trend on higher time frames remains neutral, and there is no definitive sign of either a bullish reversal or sustained bearish momentum at this stage. Institutional analysis remains positive for Solana’s long-term outlook, highlighting increased adoption, strong developer growth, and SOL’s strengthening position as a treasury asset among firms. However, in the immediate term, the breach of key support and continued selling present short-term uncertainty, making the overall view neutral until a decisive breakout or breakdown occurs.