Solana Price Falls Below $150 Despite DeFi Dev Corp’s $9.8M SOL Buy — Will Bulls Defend the $140 Support Zone?

Solana price slipped below the $150 mark on Thursday, reversing gains from a recent 10% rally. Trading at $148.56 at the time of writing, this Solana price drop contrasts sharply with rising institutional interest, most notably from DeFi Dev Corp, which purchased an additional 65,305 SOL. While macro sentiment remains risk-on and bullish patterns persist, traders are watching key technical levels as volatility re-emerges. The broader crypto market remains elevated, but Solana’s short-term outlook could be shaped by how well bulls defend the $140–$150 zone amid shifting market momentum.

DeFi Dev Corp Adds to SOL Treasury Despite Market Pullback

DeFi Dev Corp announced a fresh acquisition of 65,305 SOL, worth approximately $9.8 million, bringing its total holdings to 317,273 SOL valued at nearly $47.6 million. The strategic move includes staked SOL sourced via BitGo’s OTC desk, aimed at generating native yield from locked tokens. These assets, often tied to venture allocations or vesting schedules, are excluded from on-chain circulation but remain valuable to institutional investors. According to CEO Joseph Onorati, this approach allows DeFi Dev Corp to acquire discounted SOL and reinforce its long-term alignment with the Solana ecosystem despite the ongoing Solana price slip. This raises the question: Why is the SOL price dropping despite the growing institutional interest?

SOL Price Fall Sparks Debate: Bullish Setup or Bearish Shift?

Despite the ongoing SOL price fall, technical indicators hint at a potential bullish reversal. The breakout from an inverse head-and-shoulders pattern suggests an upside target of $176, marking a 32% gain from the neckline. SOL also holds above key exponential moving averages (50, 100, and 200-day), which reinforces the medium-term bullish case, even as current momentum tapers off due to market hesitation and short-term selling pressure.

Chart 1 – SOL/USD live price, published by TradingView, April 24, 2025

However, bearish indicators like the flattening MACD and declining volume are casting doubt on immediate gains. The Solana price fall could deepen if bulls don’t reclaim the critical $150 mark, with $140 standing out as a near-term support zone. If this level holds, the breakout pattern remains valid. Otherwise, the bullish thesis may be challenged, especially as traders weigh technicals against macro risks and recent institutional accumulation by DeFi Dev Corp.

Solana Price Falls – Is the Rally Over or Just Paused?

DeFi Dev Corp announced the acquisition of 65,305 SOL, worth approximately $9.8 million, bringing its total holdings to 317,273 SOL valued at $47.6 million. This includes staked SOL sourced via BitGo’s OTC desk to generate native yield from locked tokens. CEO Joseph Onorati emphasized that this strategy allows DeFi Dev Corp to acquire discounted SOL and strengthen its alignment with the Solana ecosystem. Despite the ongoing Solana price drop, institutional interest continues, raising the question, “Why is the SOL price dropping amid these bullish fundamentals?” 

What’s Next: Watching $140 as Solana Price Drop Tests Investor Sentiment

The current Solana price fall has placed the token at a critical crossroads. With institutional buyers like DeFi Dev Corp stepping in, long-term prospects remain promising. However, in the short term, the SOL price drop could deepen if $140 fails to hold. Traders should monitor the SOL price fall alongside volume recovery and key technical levels. Whether the next move is bullish continuation or extended pullback hinges on broader crypto sentiment, which remains sensitive to macro triggers and altcoin rotation. Until clarity emerges, the market stays on alert for signals beyond the Solana price slip headlines.

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