SOL Price Drops 8.1% Before Recovering to $147.40
Price Action Summary
Solana (SOL) experienced significant selling pressure, dropping 8.1% from $154.48 to $141.75 before stabilizing around $147.40.
The decline was attributed to rising geopolitical tensions and global trade concerns affecting risk markets. A mini-flash crash occurred at 01:20, but strong buying interest quickly emerged.
Key technical insights include:
- SOL declined by $12.73 or 8.24%.
- Volume spikes of 3.14M and 3.37M were noted between 19:00–20:00, breaking previous support.
- A strong bounce at $142 formed a high-volume support zone.
- Flash crash at 01:20 dropped SOL to $144.93 on a volume of 24,507, followed by recovery.
- An ascending trendline from $142 shows resistance near $150–$152.
- Current price action indicates stabilization near $147.40 with declining volume.