Market Overview
solarium faces fresh selling pressure as the token falls from $160.72 to $152.81, posting a 4.9% drop despite continued institutional support through exchange-traded fund products. The drop occurs due to high volume that is 17.25% above the seven-day average. Active repositioning predominates rather than passive drift.
The sale intensifies following another scheduled token unlock by bankrupt Alameda Research and FTX estate on November 11. Analyst MartyParty reports that approximately 193,000 SOL tokens worth $30 million are being released as part of the ongoing monthly allocation. The program has been gradually distributing more than 8 million tokens since November 2023. These structured releases, managed under bankruptcy supervision, typically flow to major exchanges for payment of creditors.
Institutional demand remains strong, with Solana spot ETFs recording their 10th consecutive day of inflows totaling $336 million for the week. Major financial institutions, including Rothschild Investment and PNC Financial Services, revealed new stakes in Solana-based products. Grayscale introduced options trading for its Solana Trust ETF (GSOL) to provide additional hedging tools for institutional traders.
Institutional Supply vs. Demand Pressure: What Traders Should Keep in Mind
Systematic releases of Alameda tokens create predictable selling pressure, while institutional flows provide underlying support. SOL is caught between opposing forces. The bankruptcy estate maintains approximately 5 million tokens in locked or staked positions. Smaller monthly unlocks continue until 2028 based on pre-2021 investment agreements.
The 60-minute analysis reveals accelerating bearish momentum as SOL breaks critical support at $156 amid explosive selling volume. The breakdown occurs between 15:00 and 16:00 UTC, when the price collapses from $155.40 to $152.86 on volume of 212,000, 123% above the hourly average.
This technical failure confirms the breakout of previous support and establishes a descending channel aimed at the demand zone of $152.50-152.80. However, the underlying strength of ETF flows suggests institutional accumulation at lower levels. Bitwise’s BSOL leads weekly inflows with $118 million, while maintaining its performance-focused strategy through staking rewards averaging over 7% annually.
Key Technical Levels Signal Consolidation Phase for SOL
Support/Resistance: Primary support is established at the $152.80 demand zone with secondary levels at $150; Immediate resistance at $156 (old support) and $160
Volume analysis: 24-hour volume surges 17% above weekly average during crash, confirming institutional repositioning rather than retail capitulation
Chart Patterns: Descending channel formation with lower highs at $156.71 and $156.13; Breaking above $160 is needed to invalidate the bearish structure.
Objectives and risk/reward: Potential to rebound towards $160-$165 resistance if $152.80 holds; Break below $150 accelerates towards $145 support levels
CoinDesk 5 Index (CD5) Falls 1.85% in Volatile Session
The CoinDesk 5 Index fell from $1,792.49 to $1,759.24, declining $33.25 (-1.85%) in a total range of $74.31 as strong bearish momentum emerges after failing resistance at $1,824.82, with significant institutional volume during the 15:00-16:00 sell-off confirming the downside break below key support at $1,767.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.
