Solana (SOL) experienced significant volatility in the last 24 hours, falling 8.1% from $154.48 to $141.75 before stabilizing near $147.40. This decline, driven by geopolitical tensions and global trade fears, triggered a mini flash crash, but buyers quickly stepped in, showing resilience in market sentiment.
The sharp drop shook out weak hands, but the bounce from $142 indicates strong buying interest at key support levels.
Flash Crash Followed by Buying Surge
The flash crash occurred around 01:20, with volume peaking at 24,507, pushing the price down to $144.93. However, a strong recovery followed, highlighting active demand even during uncertainty.
This recovery marked the formation of an ascending trendline from the $142 level, a potentially bullish technical development.
Key Support and Resistance Zones
Technical analysis reveals that the $142 level now acts as strong support, reinforced by high-volume buying during the crash. On the upside, resistance lies in the $150–$152 range, a level SOL needs to break to continue its bullish trajectory.
Support at $142 was validated by large-volume spikes of 3.14M and 3.37M between 19:00–20:00, further strengthening the zone as a price floor.
Meanwhile, current price action is showing signs of stabilization, with volume gradually declining, indicating consolidation before the next move.
Technical Structure and Market Sentiment
- Range covered: $154.48 high to $141.75 low — a drop of $12.73 or 8.24%
- Flash crash low: $144.93 at 01:20, followed by immediate recovery
- Short-term ascending trendline developed from the $142 level
- Resistance remains near $150–$152
- Stabilization seen near $147.40, with buyers still active
The current technical pattern suggests that a break above $152 could lead to further upside, provided support at $142 holds.
Conclusion
Despite intense selling pressure and a sudden crash, Solana’s recovery to $147 reflects strong demand at lower levels. If the ascending trendline remains intact and $150–$152 is breached, bullish momentum may continue. However, failure to hold above $142 could invite renewed selling.
Investors should watch volume trends and resistance zones closely in the coming sessions, as SOL navigates a critical phase in its short-term price structure.
