Solana (SOL) Price: $110M Flood Into Exchanges — Is SOL Heading for a Bigger Drop?

TLDR

• Around 1.40 million SOL tokens moved to exchanges in 72 hours, representing roughly $110 million in potential selling pressure.
• SOL has broken down from a bear flag pattern on the daily chart, losing a key market structure level near $85.
• Short-term support sits at $77, with a deeper support zone between $66 and $70 if that level breaks.
• A bearish crossover on the 4-hour chart (SMA-20 below SMA-50) suggests momentum continues to weaken.
• Despite short-term weakness, real-world asset tokenization on Solana has surpassed $2 billion and SoFi has launched an enterprise banking platform on the network.

Solana (SOL) is facing increased selling pressure after a large volume of tokens moved onto exchanges, adding to an already cautious technical setup. The asset is currently trading around $79–$81, down roughly 2.95% over the past week.

On-chain analyst Ali Martinez flagged that approximately 1.40 million SOL tokens moved to exchanges within a 72-hour window. That volume amounts to around $110 million worth of tokens entering trading platforms. Large exchange inflows are often read as a sign that holders are preparing to sell.

The technical picture adds to the bearish case. Crypto_Scient noted a breakdown from a daily bear flag, with price losing the market structure shift level around $85. That level had acted as a boundary between bullish and bearish momentum, and the loss of it has opened the door to lower levels.

A bearish crossover has also formed on the 4-hour chart, with the SMA-20 dropping below the SMA-50. Historically, this type of crossover has been followed by further downside. Price is now trading below a key supply zone, and the market has accepted lower levels for the time being.

Key Support Levels to Watch

Short-term buyers have been defending the $77 area, which has acted as a floor in recent sessions. If that level breaks, analysts point to secondary support around $63 to $67.

Analyst Marcus Corvinus noted that the $92–$95 zone had previously held as a strong defense area, but sellers stepped in firmly at that range, pushing SOL down into the $75–$78 region. He described this zone as a critical decision point, where the reaction would likely determine the next major move. A failure here could accelerate the decline, while a hold could trigger a sharp short squeeze.

The next major support zone sits between $66 and $70, which aligns with comments from Crypto_Scient. Any bounce toward $84–$89 may simply be a retest of the broken structure rather than a reversal of trend.

Institutional Activity Continues

Despite the price weakness, Solana’s network continues to see real-world adoption. SoFi has launched an enterprise banking platform built on Solana’s blockchain, enabling fiat and stablecoin settlement. Real-world asset tokenization on the network has surpassed $2 billion, and Solana is being used by major payment processors for stablecoin transactions.

Crypto Patel highlighted that Solana has now been classified as a commodity, which places it in a distinct regulatory category. The asset currently sits around 77% below its all-time high.

Analyst RoccobullboTTom noted that long-term support continues to form between $75 and $85. A reclaim above $100 would shift the momentum picture, with $120 and $125 as the next resistance targets above that.

A $285 million exploit on Drift Protocol, affecting 20 protocols, has added to short-term risk sentiment on the network.

Daily trading volume currently exceeds $1.68 billion, showing that market participation remains active even as price drifts lower.

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