Solana Rebounds to $147 After Shakeout, Finds Strong Demand at $142

Solana (SOL) faced a sharp selloff on Thursday, shedding over 8% within hours before finding its footing at a critical support level. The move triggered what many are calling a textbook shakeout—clearing out weak hands before SOL rebounded to $147.40 by Friday morning.

The drop from $154.48 to $141.75 came amid broader crypto market turbulence, likely exacerbated by short-term leverage and macroeconomic jitters. Yet what followed was telling: a swift recovery on elevated volume, with buyers stepping in aggressively near $142.

Key Price Levels and Market Behavior

• Flash Selloff: SOL fell $12.73 (8.24%) in less than 24 hours, with outsized red candles appearing during the 19:00–20:00 UTC window, where volume exceeded 3 million.
• Flash Crash Bounce: At 01:20 UTC, a brief panic low of $144.93 was registered, only to be met with a rapid bounce on high volume.
• Support Zone Formed: The $141–$143 area has emerged as a reliable high-volume demand zone.
• Trend Integrity Maintained: Despite the dip, Solana is still trading within its broader ascending structure.

Market Interpretation

The aggressive recovery suggests that long-term holders and larger buyers viewed the drop as a buying opportunity. The price behavior also indicates that the recent selloff may have flushed out leveraged longs, reducing overhead resistance for a cleaner upside move.

With price now stabilizing around $147 and volume cooling, traders are watching for a retest of the $150–$152 zone—a region that previously acted as short-term resistance. A break above could signal renewed momentum.