Solana Price Analysis: SOL Drops Below Key $165 Level as Technical Support Cracks
Solana (SOL) dropped 3.1% to $164.30, breaking critical technical support at $165 amid elevated selling volume.Summary
Solana (SOL) experienced a 3.1% drop to $164.30 during Tuesday's session, breaking through crucial technical support around the $165 psychological level. The selloff, which saw SOL decline from $169.54 to $164.26 in 24 hours, was characterized by significant volume accumulation, surging 58% above the daily average, particularly during Asian trading hours as the token tested the $163.85 support zone. SOL underperformed the broader crypto market, signaling targeted selling pressure without clear fundamental catalysts, suggesting profit-taking dominated. The established downtrend structure remains intact, with overhead resistance at $170.50, and the immediate focus is on whether the $163.50 zone can hold as the next critical test for bulls.
(Source：CoinDesk)