According to CoinDesk Research's technical analysis data model, solana crashes through critical support levels in a dramatic Wednesday session. The token plunged 5.24% to $145.43, erasing gains from the previous week. Trading volume exploded 13.23% above weekly averages as institutional selling dominated price action.
The breakdown accelerated during the final trading hours. SOL collapsed from $153.03 to $145.31 in a cascade of stop-loss orders. Each hourly close printed fresh lows on expanding volume. The selling pressure intensified in the final 60 minutes, with SOL plummeting from $148.61 to $145.29 as bears seized control.
ETF Inflows vs Technical Pressure
The decline occurred amid contrasting fundamental signals. Spot solana ETFs maintained their eleventh consecutive day of positive inflows. Bitwise's BSOL leads the charge with total ETF assets reaching $369 million. Yet network activity tells a different story.
Daily active addresses crashed to a 12-month low of 3.3 million. This marks a sharp decline from January's peak above 9 million users. Memecoin enthusiasm that previously drove network growth has evaporated. The divergence between institutional demand and network metrics created technical pressure that ultimately resolved downward.
Key Technical Levels Signal Further Weakness for SOL
- Support/Resistance: $150 support shattered decisively, next major floor at $142-$144 zone. Strong resistance now caps rallies near $157.25.
- Volume Analysis: Exceptional 2.49M volume during breakdown (157% above daily average) confirms institutional distribution pattern.
- Chart Patterns: Clear bearish structure emerges with lower highs from $157.25 peak and accelerating downside momentum.
- Targets & Risk/Reward: Initial target at $142-$144 support zone, extended weakness toward $135-$140 if selling continues.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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