SOL Price Falls Below $150 Amid Strong Institutional Interest

Solana’s SOL Token Declines

Solana’s SOL token faced a decline of 4.24% in the past 24 hours, trading at $149.46 after hitting a peak of $158.54. This drop followed a significant sell-off that occurred late in the U.S. trading hours, with a trading volume exceeding 2.7 million SOL when the price broke below the $155 support level.

Key Highlights:

SOL’s Recent Performance: Following a sharp overnight sell-off, SOL’s price stabilized around $150, after bottoming at $148.68.
Institutional Interest: According to Cantor Fitzgerald, who recently began covering three public firms holding SOL, the technical advantages and development growth of Solana position it well against Ethereum.
Developer Growth: Despite the current pressures, some institutional analysts are optimistic about Solana’s long-term potential in the crypto market.

Conclusion

While SOL’s recent downturn has raised concerns, it remains above last week’s crucial support area. Market watchers are assessing if the price can maintain the $148–$150 range or if more selling pressure will arise.