Solana (SOL) experienced a significant price decline on June 5, 2025, slipping below the critical $150 support level amid high-volume sell-offs.
These outflows are driven by over 3 million SOL tokens moving to centralized exchanges within three days, signaling waning investor confidence.
The recent transfer coincided with estimated outflows exceeding $468 million, intensifying market pressure.
Analysts highlight that while Solana maintains robust fundamentals—7 million daily wallets and over 100 million transactions—the action suggests short-term bearish momentum.
Despite the ongoing network strength, traders remain cautious as the market reacts to these large inflows and outflows, with resistance lingering at $153.
As one trader notes,
Reclaiming resistance at $153 and stabilizing above $150 is now critical to prevent a deeper retracement.
