Solana Bloodbath: 386K SOL Dumped in 96 Hours – These Make-or-Break Levels Could Save Your Portfolio

Solana's market just coughed up 386,000 SOL faster than a VC dumping seed tokens. Here's where traders are drawing battle lines.

The Liquidation Tsunami

Four days. That's all it took for nearly half a million SOL to flood exchanges—equivalent to roughly $38 million at current prices. The sell-off triggered cascading liquidations, leaving perpetual traders nursing double-digit percentage losses.

Critical Support Zones

• $82.50: The 200-day moving average where institutional algos cluster bids
• $75.20: June's swing low that held through three retests
• $68.00: The 'oh sh*t' level where margin longs start imploding

Overhead Resistance

Any relief rally faces stacked sell walls at:
• $94.80: Former support now turned resistance
• $103.00: The 50-day MA where degenerate perp traders get squeezed
• $112.50: The breakout zone that could trigger FOMO—if it's ever reclaimed

Meanwhile, Bitcoin maximalists are smugly tweeting 'I told you so' while conveniently ignoring their own 60% drawdowns last cycle. The market's brutal—but at least the schadenfreude is free.

Why are they selling? Here’s what the metrics say

According to AMBCrypto’s analysis, Solana’s decline is primarily due to massive selling pressure.

As prices started to drop, holders who were in profit started selling to avoid losses and lock in gains, leading to a Ripple effect in the market. 

Source: Coinalyze

According to Coinalyze, Aggregated Buy/Sell Volume showed that 386.5K SOL were sold over the last four days, leaving a negative delta of 50K SOL.

DEX activity rising, but it’s not bullish

Additionally, Solana’s DEX Volumes continued to rise, reaching $7.1 billion, while prices have been declining.

When price drops while DEX volume is rising, it indicates sell-side pressure as investors run to safety. 

Source: Artemis

Equally, the situation DEX shows high deleveraging or panic unwinding, which is a bearish defensive market signal. Thus, investors are avoiding the market and selling on-chain, leading to volatility-driven trading activity. 

This panic unwinding is evidenced by the recent drop in Solana’s Futures Volume data from Messari.

The volume dropped to just $4 million, with only $1.4 million in ‘Buys’ against $2.57 million in ‘Sells’.

Source: Messari

This implies that most market participants seemed convinced solana hadn’t bottomed yet, and were adjusting risk accordingly.

The bullish case? Still alive but…

Amid Solana’s rising pressure, Glassnode analysts have predicted key levels to watch.

According to the analysts, based on CBD Data, Solana had a solid support zone between $145 and $147, where 13 million SOL tokens were held.

But if that level gives way, selling could intensify fast.

Source: Glassnode

If $145–$147 holds, it suggests those 13 million tokens are in strong hands. That could spark a rebound toward the $155–$157 zone, where 31 million SOL are currently held.

At $155-$157 levels, a strong resistance builds because there are 31 million SOL tokens held. 

Of course, resistance WOULD stiffen there, just as it would around $166, the next key zone where 29 million tokens sit. At that point, prior buyers may cash out, stalling any rally.