Solana News Today: Solana's $150 Support Test: Institutional Confidence vs. Dwindling User Activity

Solana (SOL) has fallen below the critical $165 level, marking a significant breakdown in technical support and intensifying concerns about further declines. The token traded near $150 as of November 11, having lost nearly 10% from recent highs above $188, according to a CoinDesk report.

The price action follows a 30% drop in active Solana users during Q3 2025, signaling waning blockchain activity despite ongoing upgrades aimed at boosting transaction speeds to 1 million per second, as noted in a TradingView analysis. Technical indicators highlight key support at $155 and $150, with resistance clustered around $165–$166. A failure to reclaim $166 could trigger a test of the $150 support zone, according to multiple analyses TradingView analysis.

Institutional demand, however, remains a bright spot. US spot Solana ETFs recorded $9.7 million in net inflows on November 6, extending a seven-day streak of positive flows, according to a FXStreet report. Over $420 million in fresh institutional capital entered Solana-linked products in early November, reinforcing confidence in its long-term fundamentals despite short-term volatility, per the Crypto.news report. Open interest in SOL futures also rose 3.47% to $7.8 billion, reflecting renewed bullish positioning, per the Coinpedia analysis.

Yet liquidity concerns persist. Stablecoin market capitalization on Solana declined 8.16% weekly to $13.816 billion, signaling reduced network liquidity, as reported in the FXStreet report. Total Value Locked (TVL) dipped to $10.215 billion, though DeFi trading volumes surged past $5.1 billion, outpacing Ethereum and BNB Chain, as noted in the Investor Empires piece. This dichotomy underscores the fragility of Solana's ecosystem growth as traders rotate capital amid uncertain macroeconomic conditions.

Technical analyses present a cautious outlook. The Relative Strength Index (RSI) hovers near oversold territory at 33.58, while the Moving Average Convergence Divergence (MACD) remains bearish, indicating unresolved selling pressure, as noted in the Crypto.news report. A breakout above $166 is seen as pivotal for reversing the downtrend, with targets at $172–$177 if successful, according to the FXStreet report. Conversely, a breakdown below $150 could push the price toward $145, where additional support is expected, per the TradingView analysis.

Network upgrades led by Solana's co-founder aim to address scalability challenges, but their impact remains untested in live market conditions, as noted in the TradingView analysis. Meanwhile, the broader crypto market's underperformance—Solana lagged the CoinDesk 5 Index by 1.42%—highlights targeted selling pressure on the token . The CoinDesk report also notes a breakdown in technical support.