Solana (Sol) continues to face the pressure of increasing recession as the psychologist slipped the price below the $ 150 level, marking the decline of 5.2% in the last 24 hours.
Sales intensified during the early afternoon session with flood exchange with high-vantage trades. Analysts have been transferred over 3 million soul tokens to centralized platforms over the last three days, coinciding with more than $ 468 million in an estimated outflow.
This significant change in on-chain activity has raised doubts over the possibilities of short-term recovery, even the Solan Network continues to post strong use matrix.
With more than 100 million transactions and 7 million daily active addresses, fundamentals suggest long -term power, but the price action protocol is different from performance.
Analysts say it is now important to retrieve resistance at $ 153 and stabilize above $ 150 is now important to prevent a deep retracement.
Technical analysis highlights
- Sol-USD posted a range of $ 8.19 at a low of $ 149.79 from a high level of $ 157.98.
- Price violated psychological support at $ 150 during a large scale 182k volume spike at 13:56.
- Resistance remained firm at $ 153.00 due to repeated recovery failure during the late session.
- A descending channel has developed with a lower high and lower climbing dominating the chart.
- Volume grows at 13:39 (21k), 13:45 (66k), 13:51 (89k), and at 13:56 (182K), confirming the aggressive sales.
- The slight purchase interest is emerging around $ 149.50- $ 150.60, but if the bulls cannot catch the current floor then the risk remains.
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