SOL Slips Below $150 After Sell-Off, But Institutional Bulls Hold Long-Term View

Solana’s native token SOL fell to $149.46 on Tuesday after an abrupt late-evening sell-off wiped out earlier gains, though some institutional analysts remain convinced of its long-term potential as an Ethereum rival.

Over the past 24 hours, SOL has dropped 4.24%, retreating from a session high of $158.54. A sharp wave of selling pressure struck late Monday, pushing SOL below the crucial $155 support level. Trading volume spiked as prices declined, ultimately bottoming out at $148.68 before stabilizing around the $150 mark in choppy consolidation.

Despite near-term volatility, institutional sentiment appears resilient. On Monday, Cantor Fitzgerald initiated coverage of three publicly traded firms—DeFi Development Corp (DFDV), Sol Strategies (HODL), and Upexi (UPXI)—which hold SOL as part of their treasury assets. All three companies were assigned “overweight” ratings, with Cantor analysts highlighting Solana’s strong technical fundamentals.

The report noted that Solana has surpassed Ethereum in recent developer activity and technical performance, supported by on-chain data indicating higher throughput and lower latency. Cantor further pointed out that companies holding SOL view it as a viable contender to challenge Ethereum’s dominance, despite ether maintaining a market capitalization roughly 2.5 times larger than Solana’s.

While the latest sell-off erased much of SOL’s weekend gains, the token continues to trade above last week’s support zone. Market participants are closely watching whether SOL can hold the critical $148–$150 range or if further downward pressure could emerge in the coming sessions.

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Technical Analysis Snapshot

• During the analysis window, SOL-USD declined by 7.0%, dropping from $158.804 to $147.746, forming a 24-hour trading range of 11.058 points.
• The most intense selling occurred between 22:00 and 00:00 UTC, with trading volume exceeding 2.7 million SOL, breaking firmly below $155 support.
• After the sharp decline, prices stabilized near $152, fluctuating between $151 and $154 in a tighter range.
• The $152–$153 zone shifted from acting as support to becoming resistance during the correction, with $148.68 marking the session’s low.
• At 07:57–07:58 UTC, SOL’s price fell from $153.118 to $152.680 on a brief surge of over 150,000 SOL traded.
• Toward the end of the session, SOL consolidated between $153.400 and $152.680, with diminishing volatility suggesting indecision among both bulls and bears.