Solana (SOL) Slips Below $150 Amid Large Exchange Inflows and Selling Pressure

Solana’s price dropped 5.2% in the last 24 hours, falling below the key $150 support level despite robust network activity.

The decline intensified after over 3 million SOL tokens were transferred to centralized exchanges over three days, signaling increased selling pressure. These inflows, totaling around $468 million, triggered heightened market caution.

While the Solana blockchain continues to show strong fundamentals—with more than 100 million transactions and 7 million daily active addresses—the price has failed to reflect this strength. The divergence between network performance and market sentiment points to near-term headwinds.

Technically, SOL traded within an $8.19 range, from a high of $157.98 to a low near $149.79. A surge in trading volume accompanied the break below $150, peaking at 182,000 units late in the session. Resistance around $153 remains firm, with repeated attempts to reclaim this level falling short.

A descending channel pattern is now evident, marked by lower highs and lows, confirming ongoing bearish momentum. Without a swift recovery above $150, further downside cannot be ruled out.