Solana Price Update: $SOL is facing intense selling pressure today, declining from a recent peak of $186.80 to approximately $174–$175, indicating a shift from optimistic to pessimistic market sentiment. Within two hours, large investors withdrew over 146K SOL in net outflows, with total net outflows reaching 162K SOL, suggesting that major holders and institutions are securing gains. Bearish trends persist on short-term charts, with sellers firmly in control.
Despite the downturn, signs of strength are emerging. Large-scale buying is resuming, with one wallet recently acquiring 71K SOL (valued at $12M) and staking it through Kamino. Institutional enthusiasm is growing, with ETF inflows reaching about $137M since mid-July, and Solana’s Total Value Locked (TVL) hitting a three-year peak in SOL terms. Network performance remains robust, with unprecedented transaction speeds, though some major players like Galaxy Digital are still unstaking to cash in on profits.
For the near term, $175 is the critical support level to monitor. A recovery from this point could drive the price toward $181–$183, and breaking $178 with strong volume might target $189 or even $200. However, if $174 fails to hold, further declines could intensify bearish momentum.
Trading advice: Current holders should avoid selling near support and await a potential recovery. New buyers should wait for clear signs of a trend reversal, while active traders should place tight stop-loss orders just below $174 to limit risk. Solana’s solid fundamentals and institutional interest suggest a strong rebound is possible if market sentiment shifts.