SOL Token Dips 4.29% Amid Market Volatility, Institutional Buying and ETF Hopes Drive Rebounds

Solana (SOL) experienced a 4.29% decline over the past 24 hours, with the price falling from a 24h open of $153.74 to $147.14 on Binance. This price drop is primarily attributed to a broad market correction following recent rallies, as highlighted by analysts, and heightened volatility driven by shifting risk sentiment. The suspension of major Solana ecosystem accounts on social media may have contributed to short-term uncertainty, while ongoing optimism around a potential Solana spot ETF and strong institutional interest—such as significant SOL acquisitions by DeFi Development Corp. and MemeStrategy—have provided some support and led to intraday rebounds. Trading volumes remain high at over $4.6 billion, and technical indicators show robust but cooling buyer momentum, with key resistance near $155–$157 and support around $144–$147. Overall, the market is active and volatile, with institutional activity and ETF speculation continuing to influence sentiment and price action.