Solana Slumps Below Key Support Level Amid Whale and Retail Trader Divide

Solana has fallen for a fourth consecutive day after its recent recovery attempt lost momentum. The altcoin rallied from $63 to $76 last week before sellers regained control and triggered another pullback.

After facing rejection at $76, Solana's price dropped below the $70 support level and reached a low of $68.

At press time, Solana traded at $69, down 1.3% over the past 24 hours, with its market cap falling 1.4% while trading volume rose 3%. The divergence suggests increased market activity as traders reduced exposure, pointing to stronger sell-side pressure.

The daily chart shows a bearish short-term structure for Solana, with its price falling below its 9-day moving average at $71 and the MA Cross near $70. This move aligns with growing downside momentum.