“The token fell through key support despite elevated trading volume and continued institutional inflows into spot ETFs.”, — write: www.coindesk.com
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 PressureThe 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 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.
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Alongside bitcoin’s tumble back to $98,000, MSTR is lower by another 6.6% on Thursday, bringing its year-to-date decline to 30%.
- Strategy is lower by another 6.6% on Thursday as bitcoin sinks back below $100,000.
- Shares are now significantly down on a year-to-date and year-over-year basis, although still sharply higher over a much longer time frame.
- MSTR continues to trade at a sizable premium to the value of its bitcoin holdings.
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