Solana Faces Bearish Pressure as Whales Sell and Retail Buyers Accumulate, $154 Support Possible

Key Points

1. Solana's price dropped from $206 to $159 within a week, signaling strong bearish momentum.

2. A whale deposited 108,016 SOL ($17.74 million) into OKX and Binance, indicating preparation for selling, which historically precedes further declines.

3. Solana's Open Interest dropped 7.28% to $9.30 billion, while derivatives volume increased by 4.62% to $26.72 billion, with a Long/Short Ratio of 0.9231.

4. Retail investors are accumulating SOL despite whale sell-offs, with negative Spot Netflow for seven days, including a recent netflow of -$1.86 million.

5. Solana's price momentum is bearish, with RSI at 41 and Stochastic RSI at 0.07, but sustained retail buying could stabilize the price if the $154 support level holds.