What to know:
- Solana, that charming little crypto darling, decided to perform an unexpected somersault—dropping a 4.48% plunge, thanks to relentless rejections at its favorite resistance zone of a lofty $158–$159, sparking a sell-off more dramatic than a telenovela climax, according to the ever-wise CoinDesk Research.
- The volume of trades during the sacred hour of 1 PM (a time when modesty and stability usually reign) surpassed the 1.1 million mark, shattering support near $153.10, as if candles at a birthday party had suddenly gone wild.
- Briefly, our dear SOL dived to $151.89—ouch!—but surprise! It bounced back to $153.81, with $152.50 now standing guard like a nervous bouncer for the short-term party.
In a classic display of crypto soap opera, Solana (SOL) was once again ridiculed by its own charts, attempting to blast beyond the $158–$159 barrier, only to face the harsh reality of failed attempt and icy rejection — reminiscent of trying to open a stubborn jar of pickles without the right skills.
Then came the 13:00 hour: a scene reminiscent of a blockbuster showdown, where volume surged past a staggering 1.1 million, smashing through the delicate support line at $153.10, with all the grace of a bull in a china shop, quickening the descent into bearish territory.
Despite a vain effort to recover, SOL remains perched just above $153—like a cat contemplating whether to leap or not. The pattern of lower highs whispers (or screams) that the downward momentum might have a few more acts left unless the bulls rally to reclaim the elusive $153.30—otherwise, the much-feared $150 looms like a ghostly guardian over the price.
Technical Analysis Highlights:
- The stubborn resistance at $158–$159 unleashed a 4.48% declivity from peak to pit.
- The heavy-volume descent below support at $153.10–$153.30 signals a bearish shift akin to a plot twist nobody asked for.
- From $154.53, SOL tumbled to $151.89—a gut-wrenching 1.7% dip in merely an hour, as if it was trying to escape the gravity of its failed aspirations.
- At 13:40 (a time for lunch, not market crashes), 36K shares bid farewell, only to be joined daringly by 59K at 13:48, fueling the downward spiral.
- Rebounding to $153.81, with faint hopes resting near $152.50, but don’t get too comfortable—these lower highs could spell more trouble ahead.
- Only an upward move above $153.30 might signal that perhaps, just perhaps, this drama has a chance to end—until then, it’s a storm in a teacup.
External references? Oh, yes:
- “Solana (SOL) Continues to Fall — Is a Reversal in Sight?” — NewsBTC, June 2, 2025. (Fingers crossed, folks.)
- “Solana (SOL) Price Prediction for 3rd June 2025: Will $150 Hold or Is a Larger Breakdown Brewing?” — Coin Edition, June 2, 2025. Spoiler: probably not.”
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2025-06-02 19:10