Solana’s SOL plummeted 5% in a sudden sell-off during the midnight trading hour, as global trade disputes and monetary policy uncertainty create market volatility. The correction coincides with increasing geopolitical tensions that have rattled financial markets worldwide.
Global trade disputes and monetary policy uncertainty continue to create volatility across cryptocurrency markets, with Solana‘s midnight trading hour seeing volume spike to 1.26M.
The correction coincides with increasing geopolitical tensions that have rattled financial markets worldwide, forcing investors to reassess risk exposure across digital assets. The recent price drop of Solana (SOL) from $177 to find support at $170.41 amid significant institutional selling pressure is a reflection of this broader market sentiment.
Despite the pullback, Solana‘s ecosystem continues to expand with R3‘s strategic pivot to integrate with its blockchain, signaling growing institutional interest in the platform’s capabilities for tokenizing real-world assets. A recent partnership between the Solana Foundation and R3 aims to tokenize $10 billion in assets, potentially strengthening SOL’s institutional adoption despite current market pressures.
SOL price dropped from stable $177 range to find support at $170.41, representing a 4.5% correction. Dramatic volume spike to 1.26M occurred during midnight hour when prices fell below $172. Support levels established at $170.67-$171.66 have held thus far.
Price attempted recovery toward $174 level before facing resistance. In the last hour, SOL declined from $172.93 to $172.00. A significant price drop occurred at 08:00, briefly touching $171.92 before recovering. Volume spiked to 29,372 units during this minute, suggesting institutional selling pressure.
Institutional investors are organizations that pool funds to invest in various assets, such as stocks, bonds, and real estate.
These investors include pension funds, mutual funds, hedge funds, and sovereign wealth funds.
They play a significant role in the global financial market, influencing asset prices and economic trends.
Institutional investors often have long-term investment horizons, allowing them to take calculated risks and invest in companies with strong growth potential.
Price continues to consolidate near $172 support level. The recent price movement suggests that Solana‘s SOL is facing increasing resistance ahead of the critical $172 support level.
