Solana Price Analysis: SOL Drops 4.9% Breaking Below Key Support as Alameda Unlocks Continue

Solana (SOL) experienced a 4.9% decline, falling from $160.72 to $152.81 on elevated volume, breaking critical support at $156. This selling pressure is attributed to another scheduled token unlock from the bankrupt Alameda Research and FTX estate, releasing approximately 300,000 SOL tokens worth $30 million as part of ongoing monthly vesting that continues through 2028. This systematic selling pressure is counteracted by robust institutional demand, evidenced by spot ETFs recording ten consecutive days of inflows totaling $336 million for the week, with major institutions disclosing new holdings. Technically, SOL broke down during a specific hourly window, confirming bearish momentum and establishing a descending channel. Key technical levels to watch are support at the $152.80 demand zone and resistance at $160; holding $152.80 could lead to a bounce toward $160-$165, while a drop below $150 accelerates the move toward $145.

(Source：CoinDesk)