SOL Token Dips 2.12% Amid $225M Crypto Liquidations, Tests $140 Support Despite Ecosystem Growth

Solana (SOL) experienced a 2.12% price decline over the past 24 hours, with the current price at $138.26 (down from a 24h open of $141.25) according to Binance data. This price movement is primarily attributed to broader market volatility, highlighted by the liquidation of over 83,000 traders and $225.28 million in losses across the crypto sector within the same period. Despite recent network upgrades and ecosystem growth, including record stablecoin issuance and ongoing ETF developments, SOL’s price action has been dominated by technical factors, specifically its repeated testing and defense of the $140 support level. Increased trading activity near this threshold reflects cautious optimism, but the inability to sustain above $140 has contributed to the recent downward pressure. Overall, Solana remains a leading altcoin with a robust ecosystem, and its current market dynamics are shaped by both sector-wide volatility and strong community-driven support at key technical levels.