Slides 5% to $145 as Technical Breakdown Overshadows ETF Momentum

According to CoinDesk Research’s technical analysis data model, solana SOL$141.80 crash through critical support levels in Wednesday’s dramatic session. The token sank 5.24% to $145.43, erasing gains from the previous week. Trading volume exploded 13.23% above the weekly average, as institutional selling dominated price action.

The break accelerated during the last trading hours. SOL collapsed from $153.03 to $145.31 in a cascade of stop-loss orders. Every hour closes printed fresh bass on the expanding volume. Selling pressure intensified in the last 60 minutes, with SOL falling from $148.61 to $145.29 as the bears took control.

ETF Income 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 fell to a 12-month low of 3.3 million. This marks a sharp drop from January’s peak of over 9 million users. The enthusiasm for Memecoin that previously drove the growth of the network has evaporated. The divergence between the institutional demand and the network metrics created a technical pressure that ultimately resolved itself in decline.

Key technical levels signal further weakness for SOL

• Support / Resistance: $150 decisively broken support, next major level at $142-$144 area. Strong resistance now limits the rally near $157.25.
• Volume analysis: Exceptional volume of 2.49M during the breakout (157% above the daily average) confirms the institutional distribution pattern.
• The paper models: Clear bearish structures emerge with lower highs from $157.25 peak and acceleration of downside momentum.
• Goals & Risk/Reward: Initial target at $142-$144 support zone, weak extended towards $135-$140 if selling continues.

Disclaimer: Parts of this article were generated with the assistance of 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.