Solana (SOL) experienced significant volatility, seeing a substantial selloff and a brief flash crash within a short period. Initially, SOL fell below the critical $150 support level, dropping 5.2% from $157.98 to $149.79 due to a $468 million selloff involving 3 million SOL tokens moved by large holders to exchanges over three days. This whale activity was accompanied by a surge in Coin Days Destroyed, hitting 3.55 billion, indicating that long-term holders moved dormant coins for the first time in months. These factors triggered heavy selling pressure, as volume spiked during afternoon trading.
Technical analysis showed that SOL needed to reclaim resistance around $153 and maintain levels above $150 to avoid a deeper decline. The price broke below $150 with aggressive selling, forming a descending channel marked by lower highs and lows, confirming bearish momentum. Despite this price weakness, Solana's network fundamentals remained robust, with 7 million daily active wallets and more than 100 million daily transactions, signaling ongoing protocol usage and healthy network activity.
Shortly after the selloff, SOL suffered a flash crash dipping to $141.75 from $154.48 (an 8.1% drop) amid rising geopolitical tensions and global trade concerns impacting risk markets broadly. However, strong buying interest emerged, bouncing price back to around $147.40. Technical patterns shifted toward a short-term ascending support trendline around $142 with resistance in the $150–$152 zone. The recovery attempt emphasized market resilience despite intense volatility and persistent selling pressure.
Overall, while the price experienced sharp declines and volatility driven mainly by whale selloffs and macroeconomic fears, Solana's network activity and developer engagement continue to show strength, which may support the asset's long-term outlook.