Solana (SOL) faced a sharp reversal on June 2 after multiple failed breakout attempts near the $158–$159 resistance zone, sparking a 4.48% decline and raising red flags for near-term price action.
Heavy Volume Triggers Breakdown Below Support
According to CoinDesk Research’s technical analysis model, bearish momentum intensified during the 13:00 hour, as a surge in trading volume (1.1M+) pushed SOL below key support at $153.10–$153.30. This breakdown accelerated the intraday sell-off, with SOL briefly dropping to $151.89 before rebounding to $153.81.
Key Volume Signals:
- 13:40: Heavy selling (36K volume)
- 13:48: Sharp follow-up sell-off (59K volume)
Technical Levels to Watch
Despite a modest recovery, Solana’s technical structure shows signs of weakness:
- Support: $152.50 (short-term), $150.00 (psychological)
- Resistance: $158–$159 (major zone), $153.30 (trend confirmation)
- Trend: Lower highs and rising sell volume suggest continued bearish bias.
A close above $153.30 is needed to stabilize the current trend, while failure to hold above $152.50 could open the door for a deeper retracement toward the $150 level.
Macro Factors Amplify Volatility
Solana’s decline comes amid escalating U.S.-China trade tensions, adding a layer of uncertainty to already jittery global markets. Broader crypto sentiment remains fragile, with Solana among several large-cap assets under pressure.
Outlook
Short-term traders are eyeing $153.30 as the immediate pivot level. A bullish reclaim could signal consolidation, but failure to hold above support risks triggering a larger breakdown. If $150 fails to hold, downside targets may extend toward the mid-$140s.