High-volume dump during U.S. night hours pushes SOL below $172 support, suggesting whale-led move
Solana (#SOL)#SaylorBTCPurchase took a sharp 5% hit overnight, dropping below the crucial $172 support level amid an unexpected surge in trading volume around midnight UTC. The sudden drop has sparked speculation of a possible institutional or whale-driven exit, as the pattern mirrored coordinated sell-offs seen in previous high-stakes market moves.
Analysts observed a series of large transactions on both centralized and decentralized exchanges, occurring within a tight 30-minute window. This activity contributed to a swift breakdown of buyer support, triggering stop-losses and adding momentum to the downward slide.
The timing of the move—during a typically low-liquidity period—suggests strategic execution, a hallmark of institutional players aiming to minimize slippage while maximizing impact. “We’re seeing behavior consistent with fund-level exits or profit-taking,” noted a senior crypto market analyst.
If the $172 level fails to recover in the coming sessions, SOL could test the $165–$160 range, where historical demand may offer short-term relief. However, a prolonged breach below $170 could open the door to further downside pressure, especially if broader risk sentiment deteriorates.$SOL
