CoinDesk 2025-06-02 15:21:41

Solana Reverses Gains After Failed Rally Sparks Heavy Selling

Solana (SOL) faced renewed downside pressure after multiple failed attempts to break above the $158–$159 resistance zone. Sellers took control during the 13:00 hour, where volume surged past 1.1 million, breaking through the $153.10–$153.30 support region and accelerating the bearish momentum. Despite a modest recovery attempt, SOL remains on the back foot, trading just above $153. With lower highs forming across recent sessions and key support zones under threat, analysts warn that further downside is possible unless bulls reclaim the $153.30 level. The psychological $150 mark now looms as the next major line of defense. Technical Analysis Highlights Strong resistance at $158–$159 triggered a 4.48% decline from peak to trough. High-volume breakdown below $153.10–$153.30 support zone signals bearish shift. SOL fell from $154.53 to $151.89 in the final hour, a 1.7% intraday drop. Notable selling at 13:40 (36K) and 13:48 (59K) accelerated downward momentum. Price has since rebounded to $153.81, with tentative support near $152.50. Lower highs and elevated selling volume suggest continued short-term pressure. A close above $153.30 is needed to signal potential trend stabilization. External References " Solana (SOL) Continues to Fall — Is a Reversal in Sight? ", NewsBTC, published June 2, 2025. " Solana (SOL) Price Prediction for 3rd June 2025: Will $150 Hold or Is a Larger Breakdown Brewing? ", Coin Edition, published June 2, 2025.