Solana Price Analysis: Slides 5% to $145 as Technical Breakdown Overshadows ETF Momentum
Solana plunged 5% to $145, breaking critical support despite positive spot ETF inflows, driven by collapsing network activity.Summary
Solana (SOL) experienced a significant downturn, plunging 5.24% to $145.43 on Wednesday, erasing prior weekly gains amidst an explosion in trading volume that suggested institutional selling. This technical breakdown occurred despite positive fundamental signals, as spot Solana ETFs recorded their eleventh consecutive day of inflows, with total assets reaching $369 million.
However, network activity contradicted this institutional interest, as daily active addresses crashed to a 12-month low of 3.3 million, down sharply from January's peak above 9 million, indicating that evaporated memecoin enthusiasm was driving down underlying usage.
Technically, SOL decisively shattered the $150 support level, with strong selling pressure accelerating in the final trading hours. Key technical levels now point to further weakness, with the next major floor expected between $142-$144, while resistance caps rallies near $157.25.
(Source：CoinDesk)