SOL Drops Below $150 After Sell-Off Despite Growing Institutional Adoption Narrative

Solana's SOL SOL$122.25 fell 4.24% over the past 24 hours to trade at $149.46, retreating from a high of $158.54 following a sharp overnight sell-off. Trading volume surged as SOL broke below $155 support late Monday, with the price eventually bottoming at $148.68 before entering a choppy consolidation around the $150 mark.

Despite the short-term pressure, some institutional investors remain optimistic about Solana’s long-term positioning. On Monday, Cantor Fitzgerald launched coverage of three public companies — DeFi Development Corp (DFDV), Sol Strategies (HODL), and Upexi (UPXI) — that hold SOL as a treasury asset. The firm assigned all three “overweight” ratings and emphasized Solana’s technical strength.

Cantor’s analysts argued that Solana has outpaced Ethereum in recent developer growth and technical performance, citing on-chain metrics that show higher throughput and lower latency. The report added that firms using SOL as a treasury asset view it as a serious contender to challenge ETH’s dominance, despite ether still having a market cap 2.5 times larger.

While the recent correction has erased much of the weekend’s gains, SOL remains above last week’s support zone. Traders are now watching whether the token can hold the $148–$150 range or if further downside pressure will emerge.

Technical Analysis Highlights

• During the analysis window, SOL-USD dropped 7.0% from $158.804 to $147.746, forming a 24-hour range of 11.058 points.
• The steepest sell-off occurred between 22:00 and 00:00 UTC on volume exceeding 2.7 million SOL, breaking down through $155 support.
• Price later stabilized around $152 and traded in a tightening range between $151 and $154.
• The $152–$153 zone transitioned from support to resistance during the correction, with $148.68 marking the session low.
• At 07:57–07:58 UTC, price dropped from $153.118 to $152.680 on a spike exceeding 150,000 SOL in volume.
• Toward the end of the analysis period, SOL consolidated between $153.400 and $152.680 with declining volatility, signaling hesitation among both bulls and bears.

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