Why did Solana (SOL) Price Plummet 21%? Analysis and Future Predictions

Jakarta, Pintu News – The cryptocurrency market is often unpredictable, and the recent price drop of Solana (SOL) is clear evidence of this volatility. Despite a large flow of funds into the Solana ETF in the United States, the price of SOL experienced a sharp decline. This article will dig deeper into the factors that influenced this drop and what might happen next.

Why is the Solana (SOL) Price Drop Surprising?

Last week, Solana (SOL) witnessed an inflow of $421 million into US-based ETFs, which should have been a bullish indicator. However, the market reality spoke differently. Despite an increase in institutional investment, the price of Solana (SOL) slipped, surprising many market participants who had hoped for a price increase.

This decline shows that despite support from institutional investors, other factors such as a bearish market structure and consistent selling pressure still play a dominant role. This suggests that the market may not be ready for a sustained price recovery, despite the optimism of some investors.

Also Read: Will Bitcoin (BTC) Experience a Sharp Drop Before Surging Again? Here’s the Analysis!

Will Solana (SOL) Price Rebound or Continue to Lose Money?

Technical indicators show that selling pressure on Solana (SOL) is still strong, with a bearish market structure. Technical analysis suggests that the price could drop to the $145-$150 range in the near future. This indicates that investors and traders should prepare for a possible further decline before seeing a rebound.

Furthermore, despite significant buying by Solana (SOL) whales, this was not enough to keep prices from falling further. This suggests that overall market sentiment may still be negative, and investors should be cautious about making investment decisions in these uncertain times.

Key Solana (SOL) Levels to Watch Out For

After a sharp drop on October 10, the $170-$180 demand zone was successfully defended by Solana (SOL) bulls. However, the formation of higher lows was not followed by higher highs, which is an indication that the market may still be in a consolidation phase or even preparing for a further decline.

At the moment, the support level to watch is $150, while the $163-$170 area will act as resistance. Traders and investors need to monitor indicators such as On-Balance Volume (OBV) and Money Flow Index (MFI) to get a better understanding of market forces.

Conclusion

Despite significant fund flows into the Solana ETF (SOL) in the US, technical and broader market factors still point to bearish pressure. Investors and traders should consider the current market risks and volatility before making investment decisions. Monitoring technical indicators and market structure will be crucial in determining the future price direction of Solana (SOL).

Also Read: Dash price soars, hitting $100 after almost 4 years!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• AMB Crypto. Solana: Assessing why SOL’s price crashed by 21% from previous week’s high. Accessed on November 6, 2025