Overview
- SOL fell from $128 to a low near $112 and hovered around $113–$114, staying below the 100-hour moving average with resistance at $116 and $120–$122.
- Analysts highlight $112 and $105 as key supports, with downside risks toward $102 if those levels fail, while a close back above $122 would relieve pressure.
- Trading volume rose to roughly $7–$8 billion during the decline, indicating active repositioning rather than thin liquidity.
- Derivatives and flow signals skewed bearish, including a reported $6.15 million SOL short on Hyperliquid and a $2.22 million outflow from U.S. spot Solana ETFs, according to third-party trackers.
- Fundamental metrics stayed resilient with Solana DeFi TVL near $9 billion, even as the broader market pullback saw Bitcoin and Ethereum decline.