The post Why Solana (SOL) Pulled Back After Breaking $180 Resistance appeared on BitcoinEthereumNews.com.

TLDR Solana experienced a dramatic 24.40% surge to $180 following Trump’s endorsement for Strategic Reserve inclusion, accompanied by a 480% volume spike to $14 billion The rally was short-lived as SOL dropped nearly 20% to around $140, with exchange inflows outpacing outflows by $195.28 million – the largest since January FTX/Alameda recently unstaked 3.03M SOL (worth $431.3M) with 24,799 SOL already transferred to Binance for liquidation Despite the downward pressure, market analysis suggests $120 as a strong support level, making a drop below $100 unlikely Open Interest jumped 15.80% to $5.05 billion indicating continued speculative activity, though actual spot demand remains weak Solana’s price movement has taken investors on a volatile journey in recent days, marked by a sharp rally followed by an equally notable decline. The cryptocurrency initially surged 24.40% to reach $180, driven by Donald Trump’s endorsement of its potential inclusion in the Strategic Reserve. The uptick came with extraordinary market activity, as trading volume exploded by 480% to reach $14 billion, suggesting strong buying pressure at the time. This surge represented a recovery from previous losses experienced over ten trading sessions. However, the momentum proved unsustainable. SOL has since retreated by almost 20%, trading just under $140 at press time. The decline coincides with FTX and Alameda unstaking 3.03 million SOL tokens, valued at approximately $431.3 million. The market’s reaction to this unstaking event has been swift. Of the unstaked tokens, 24,799 SOL (worth $3.38 million) has already been transferred to Binance exchange, suggesting immediate liquidation plans. Exchange flow data reveals a telling story about market sentiment. Net inflows reached $195.28 million, marking the highest level since January 2025. The last time similar inflow levels were observed was when SOL hit its all-time high of $295, which preceded a market reversal. Despite the price decline, derivatives markets…

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Filed under: News - @ March 4, 2025 10:20 am