Solana Falls Below $150 Amid $468M Outflow and Bearish Pressure

Solana (SOL) tumbled below the key $150 support level, dropping 5.2% over the past 24 hours as bearish momentum accelerated. The sharp decline was triggered by a surge in sell orders during early afternoon trading, with trading volumes spiking significantly. On-chain data reveals over 3 million SOL were transferred to centralized exchanges in the past three days, fueling fears of further downside. These transfers coincided with estimated outflows exceeding $468 million, signaling large-scale profit-taking or liquidation activity.

Despite solid network fundamentals—over 100 million daily transactions and 7 million active addresses—market sentiment remains bearish. Analysts note a clear disconnect between Solana’s robust protocol performance and its weakening price action. Reclaiming $153 and holding above $150 are seen as critical to stabilizing the trend and preventing a steeper retracement.

Technical indicators reflect intensifying sell-side pressure. SOL traded in an $8.19 range from $157.98 down to $149.79. A sharp 182,000-token sell spike at 13:56 confirmed a break below the psychological $150 floor. Multiple failed attempts to retake $153 during the session reinforce this level as firm resistance. A descending channel has emerged, marked by lower highs and lower lows, indicating a short-term bearish structure.

Volume spikes at 13:39 (21K), 13:45 (66K), 13:51 (89K), and 13:56 (182K) highlight heavy liquidation events. While modest buying interest is appearing between $149.50 and $150.60, the current support zone is fragile. If bulls fail to regain control, the next leg lower could materialize quickly. Investors are watching closely for signs of recovery or continued capitulation.