Solana Holds $142 Support After 8% Drop, Stabilizes Near $147 Amid Market Volatility
Solana (SOL) weathered a sharp 8.2% decline in the past 24 hours, finding solid support at $142 before rebounding to stabilize near $147.40. Despite heavy selling and a brief flash crash, buyer interest remains resilient.
Price Action
SOL slid from $154.48 to a low of $141.75 amid intensified selling pressure, largely triggered by escalating geopolitical tensions and renewed fears over global trade stability. The broader risk-off sentiment hit digital assets across the board.
A sudden mini-flash crash during the 01:20 hour briefly sent prices to $144.93 on high volume, but the dip was quickly bought up, signaling that demand remains intact even during extreme volatility.
Key Technical Developments
- Range Decline: SOL dropped $12.73 from peak to trough, marking an 8.24% intraday loss.
- Volume Spikes: Sharp volume increases (3.14M and 3.37M) between 19:00–20:00 pushed price through initial support levels.
- Support Zone: A strong rebound at $142 created a high-volume demand zone.
- Flash Crash: At 01:20, price dipped to $144.93 on 24,507 volume, but quickly recovered.
- Trend Structure: A short-term ascending trendline has emerged from the $142 low.
- Resistance Ahead: The $150–$152 range is a critical resistance zone to watch.
- Current Status: SOL is consolidating near $147.40, though volume has tapered off, suggesting a pause in momentum.
Outlook
Solana’s ability to hold above the $142 level and bounce on strong volume suggests underlying market strength despite broader macro uncertainties. Price action remains constructive above the trendline, but bulls will need to push past the $152 mark to regain control in the short term.
