#BinanceHODLerMorpho Solana fell mainly due to institutional pressure and token unlocks, not retail capitulation. The RSI indicates overselling and the MACD remains bearish, suggesting technical weakness in the short term.
Here is a technical and fundamental summary of what is happening with Solana (SOL):
Why did Solana fall?
1. Token unlock by Alameda Research
On November 11, 193,000 SOL (≈30 million USD) were released as part of the bankruptcy process of FTX and Alameda.
This increased the supply in the market, generating bearish pressure.
2. Break of technical support
The price broke the key support at $156, which triggered technical sales and increased volume.
The volume rose by 17% compared to the weekly average, reflecting a phase of institutional adjustment.
3. Insufficient institutional flows
Although there were inflows of $336 million in ETF products related to Solana, they failed to offset the selling pressure.
