SOL Token Dips 3.52% Amid $1.57B Unlocks and Resistance Rejection, Remains Top 6 Crypto

Solana (SOLUSDT) experienced a 3.52% decline over the past 24 hours, with the price dropping from 166.89 to 161.01 USDT on Binance. The recent price decrease is attributed to heightened market volatility as SOL approached and was rejected at the key $165 resistance level, combined with broader market indecision. Additional factors influencing sentiment include the upcoming $1.57 billion in token unlocks (including a linear unlock for SOL between July 14 and July 21), which may be contributing to short-term uncertainty. Despite the pullback, Solana remains the #6 cryptocurrency by market capitalization at approximately $85.5 billion, with a 24-hour trading volume ranging from $5.85 billion to $11.58 billion and a circulating supply near 540 million tokens. Over the past week, SOL has still managed a gain of over 5.5%, reflecting ongoing active trading and interest.