Solana Slides 5% to $145 as Technical Breakdown Overshadows ETF Momentum
Solana tumbled 5.24% to $145.43 on Wednesday after CoinDesk Research's technical analysis flagged a break below critical support around $142.06, a drop that erased the token's gains from the prior week and tightened stop levels for short-term holders. The sharp move came even as broader ETF-related flows have kept attention on large-cap blockchain assets, underscoring a divergence between on-chain sentiment and chart-based risk.
For traders and portfolio managers, the breakdown raises the likelihood of elevated volatility in SOL and other altcoins sensitive to technical levels. Short-term traders may face tighter risk controls and margin pressure, while longer-term investors will be watching whether buyers step in at lower supports or if the breach signals a deeper corrective phase. Monitoring volume and confirmation on subsequent sessions will be key to judging whether this is a transient pullback or the start of a larger trend change.