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Solana Reverses Gains After Failed Rally Sparks Heavy Selling
Multiple failed breakouts near $159 sent SOL tumbling on heavy volume, with technical signals now pointing to deeper downside risk unless key levels are reclaimed.
Jun 2, 2025, 3:21 p.m.
What to know:
- Solana dropped 4.48% after repeated rejections at the $158–$159 resistance zone, triggering a sharp intraday sell-off, according to CoinDesk Research's technical analysis data model.
- Heavy volume during the 13:00 hour breached key support near $153.10, accelerating bearish momentum.
- Price briefly fell to $151.89 before rebounding to $153.81, with $152.50 now acting as potential short-term support.
Solana 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.
STORY CONTINUES BELOW
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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
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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