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SOL Recovers to $147 After Flash Crash Shakes Out Weak Hands

coindesk.com

5 hour ago

SOL Recovers to $147 After Flash Crash Shakes Out Weak Hands

Price Action Solana (SOL) faced intense selling pressure over the past 24 hours, dropping 8.1% from $154.48 to $141.75 before recovering to stabilize near $147.40. The sell-off was largely driven by rising geopolitical tensions and global trade concerns, which spooked risk markets. The sharp drop included a mini-flash crash during the 01:20 hour, but strong buying quickly followed, highlighting continued interest in the asset even amid heightened volatility. Technical structure now shows an ascending support trendline, while resistance at the $150–$152 zone marks a critical level to watch. Technical Analysis Highlights SOL declined from $154.48 to $141.75, marking a range of $12.73 or 8.24%. Massive volume spikes (3.14M and 3.37M) occurred between 19:00–20:00, breaking previous support. Price bounced sharply at $142, forming a high-volume support zone. Flash crash at 01:20 dropped SOL to $144.93 on 24,507 volume, but strong recovery followed. Short-term ascending trendline formed from $142 with resistance near $150–$152. Latest price action shows stabilization near $147.40 on declining volume.

https://www.coindesk.com/markets/2025/06/06/sol-recovers-to-usd147-after-flash-crash-shakes-out-weak-hands?utm_source=CryptoNews&utm_medium=app