In the past 72 hours, approximately 1.4 million Solana ($SOL) tokens, valued at around $110 million, have flowed into exchanges. Analysts warn that this surge in inflows could increase selling pressure in the short term, as traders may choose to take profits or reduce their positions, suggesting that SOL may face downward momentum near key support levels.
According to data from Glassnode, about 1.4 million Solana ($SOL) tokens have been transferred to exchanges in the last 72 hours, worth approximately $110 million. Analyst Ali Charts noted that this inflow marks a significant increase in exchange balances, rising from 27.6 million to 28.6 million tokens.
Such inflows typically indicate increased selling pressure, as holders transfer SOL to exchanges for liquidation. Although inflow amounts do not necessarily guarantee a price decline, the scale of $110 million is noteworthy. Traders often monitor these patterns to predict Solana's short-term price movements.
From a technical perspective, Solana's next major support level appears to be between $66 and $70. The trend remains suppressed until SOL makes a strong rebound to $90. Traders should closely watch exchange inflows and market structure to assess potential short-term trends.