Solana Falls Below $165 as Technical Support Gives Way – 11/11/2025

Solana (SOL) slipped under the critical $165 level on Tuesday amid sustained selling pressure, while broader crypto markets exhibited mixed activity during an elevated-volume session.

According to CoinDesk Research’s technical analysis model, SOL declined 3.1%, from $169.54 to $164.30, establishing a downtrend with repeated rejection points above $170. The token’s selloff intensified during Asian trading hours, with trading volume surging 58% above the daily average as SOL tested the $163.85 support zone. The session’s range of $8.06 reflected roughly 4.9% intraday volatility, peaking at 06:00 UTC when 1.47 million tokens changed hands.

SOL underperformed the broader crypto market, dropping 1.42% relative to the CoinDesk 5 Index (CD5), signaling targeted selling. Intraday analysis revealed an aggressive but short-lived upside reversal, with SOL spiking from $164.07 to $164.97 before collapsing to $163.46, highlighting the fragility of bullish momentum within the prevailing downtrend.

Technical Breakdown and Support Levels
The decline occurred without any notable fundamental catalysts, suggesting momentum-driven selling and profit-taking dominated trading. Institutional flows appeared mixed, with overnight accumulation offset by daytime distribution.

SOL’s breach of the $165 psychological level leaves the $163.50 zone as the next critical test for demand. The token’s downtrend remains intact, with lower highs at $170.48 and $171.92 acting as overhead resistance. Momentum indicators deteriorated throughout the session, as bounces drew minimal buying interest while retests of highs faced escalating selling pressure, reinforcing a bearish near-term outlook.

Key Technical Metrics

• Support/Resistance: Critical support tests $163.50 after breaking $165; resistance confirmed near $170.50.
• Volume: Significant surge of 1.47 million tokens (58% above 24-hour average), with peak selling at 66,399 tokens during the 09:16 UTC decline.
• Chart Patterns: Downtrend with lower highs at $170.48 and $171.92, confirmed by failure of technical support and weakening momentum.
• Risk/Reward: $163.50 is the immediate test for bulls; failure could open the way toward the $160 psychological support zone.

CD5 Market Snapshot
The CoinDesk 5 Index fell 1.63% from $1,851.31 to $1,821.19, with intraday volatility spanning $1,868.63 to $1,816.85. Institutional buying provided support during overnight sessions, helping the index recover from the $1,817 technical floor.

Overall, SOL faces a near-term test of demand at $163.50, with the technical picture favoring further downside unless bulls reclaim key resistance above $170.