SOL Drops Under $150 as 3M Tokens Flood Exchanges

Solana (SOL) continues to face mounting bearish stress as the value slid under the psychological $150 stage, marking a 5.2% drop up to now 24 hours.

The sell-off intensified throughout the early afternoon session with high-volume trades flooding exchanges. Analysts attribute the decline to greater than 3 million SOL tokens being transferred to centralized platforms over the previous three days, coinciding with greater than $468 million in estimated outflows.

This vital shift in on-chain exercise has forged doubt on short-term restoration prospects, even as the Solana community continues to publish robust utilization metrics.

With over 100 million transactions and seven million each day energetic addresses, the basics counsel long-term energy, however value motion stays disconnected from protocol efficiency.

Analysts say reclaiming resistance at $153 and stabilizing above $150 is now essential to stopping a deeper retracement.

Technical Analysis Highlights

• SOL-USD posted a $8.19 vary from the excessive of $157.98 to a low of $149.79.
• Price breached psychological help at $150 throughout an enormous 182K quantity spike at 13:56.
• Resistance remained agency at $153.00 as repeated restoration makes an attempt failed throughout the late session.
• A descending channel has developed with decrease highs and decrease lows dominating the chart.
• Volume surges at 13:39 (21K), 13:45 (66K), 13:51 (89K), and 13:56 (182K) affirm aggressive promoting.
• Modest purchase curiosity is rising round $149.50-$150.60, however draw back threat persists if bulls can’t maintain the present flooring.

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