Sellers Maintain Control As Major Support Breaks

• Solana price today trades near $154 after losing the critical $170 support level, confirming sellers remain in control.
• Negative netflows and falling open interest show traders reducing exposure rather than accumulating on the dip.
• If SOL fails to reclaim $170, downside targets shift to the $145–$150 liquidity pocket.

Solana (CRYPTO: SOL)  price today trades near $154 after losing the critical $170 support zone. The breakdown confirms sellers remain in control while spot outflows and softening open interest reinforce bearish momentum.

Sellers Maintain Control As Major Support Breaks

The daily chart shows Solana failing to reclaim the 20 day, 50 day, and 100 day EMAs. All three are stacked downward and reinforcing the descending trendline from the October peak. The EMA cluster around $185 to $192 now acts as a heavy overhead barrier. Any short term bounce faces immediate selling pressure from this zone.

The breakdown below $170 is the most important structural event on the chart. That level held through August and September as buyers defended every test. Losing it on strong volume confirms a decisive shift in market control.

Solana now trades below the Parabolic SAR trend markers for several consecutive sessions. Historically, this has aligned with sustained downside periods and trend continuation rather than immediate reversal.

If bulls cannot reclaim $170 quickly, the $145 to $150 liquidity pocket becomes the next logical destination.

Spot Flows Turn Negative As Demand Weakens

Data from Coinglass indicates persistent negative netflows through late October and early November. On November 7 alone, Solana recorded nearly $5 million in net outflows. 

This confirms that real tokens are leaving exchanges, suggesting reduced buying interest and a willingness from holders to sell into weakness rather than accumulate.

Futures Market Shows Longs Unwinding

Derivatives data adds a second layer of bearish confirmation. Open interest dropped to roughly $7.45 billion, down nearly 3 percent in the past 24 hours. Declining open interest during a selloff typically means positions are being closed rather than new short exposure being added. In other words, longs are abandoning their trades.

The options market shows similar weakness. Options open interest has collapsed sharply, signaling reduced demand for speculative upside exposure. Rising options volume alongside falling open interest highlights that traders are actively unwinding, not building new directional bets.

Bulls Need A Daily Close Back Above $170

For buyers to regain control, Solana needs a close above $170. That level served as structural support for months and breaking back above it would show that dip buyers have returned.

A reclaim would also place price back inside the previous consolidation range. From there, $185 and $193 become the next upside targets where the descending trendline and 100 day EMA converge. Without a reclaim of $170, rallies are likely to be rejected at the EMA cluster.

Outlook. Will Solana Go Up?

• Bullish case: A daily close above $170 would signal strength and open the door to $185 and $193. Breaking above the descending trendline near $200 would flip structure back to bullish.
• Bearish case: Failure to reclaim $170 confirms the breakdown and exposes $145. If selling accelerates, price could retest $135 where high volume nodes sit from June.