The post SOL Hovers Near $154 After Support Break as Liquidations Rise appeared on BitcoinEthereumNews.com.

Solana (SOL) remains under pressure as macroeconomic headwinds—particularly renewed tariff concerns — rattle investor confidence. The token is now hovering around $154.50 after establishing a tight trading range between $152.33 and $158.06, reflecting a 3.76% swing in the past 24 hours, according to CoinDesk Research’s technical analysis data model. Although higher lows had previously suggested resilience, SOL slipped from $156.74 to $154.86 in a single hour, breaking beneath its mid-April uptrend channel. Derivatives data reflects bearish sentiment: open interest in SOL futures is down 2.47% to $7.19 billion, while long liquidations surged to $30.97 million, indicating pressure on leveraged positions. Short liquidations remain minimal, reinforcing the downside bias. Still, institutional interest remains evident. Circle’s recent $250 million USDC mint on Solana has added liquidity and cemented the chain’s stablecoin leadership, with 34% of all stablecoin volume now routed through the network. Additionally, SOL Strategies’ $1 billion validator fund signals sustained long-term confidence in the protocol’s scalability, even as short-term price action falters. Technical Analysis Highlights SOL established a 5.73-point range ($152.33–$158.06), indicating a 3.76% intraday swing. Earlier price action traced a clear ascending channel with solid support near $152.80, supported by heavy accumulation.SOL hit a session high of $158.06 during the 19:00 hour on strong volume, signaling earlier bullish momentum. A reversal unfolded in the early morning hours, with SOL falling from $156.74 to $154.86 on increased selling.Selling pressure peaked between 01:53–01:54, with over 74,000 units traded in a sharp burst. Short-term momentum turned bearish as lower highs and weaker volume defined the final trading stretch.As of writing, SOL is consolidating near $154.50, suggesting price stability but with downside risk if volume doesn’t improve. External References Source: https://www.coindesk.com/markets/2025/06/01/solana-holds-near-154-after-losing-support-as-tariff-fears-rattle-markets

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Filed under: News - @ June 1, 2025 9:15 am