Solana Price Eyes $150 Breakout, But Holder Sell-Off Casts Doubt on Rally

Solana’s price is showing signs of recovery, but selling pressure from long-term holders is creating headwinds for a sustained breakout. After climbing more than 5% in the past 24 hours, Solana (SOL) is trading at $146, inching closer to the key $150 resistance level. However, persistent selling by key stakeholders could keep the altcoin grounded—for now.

Earlier this month, Solana’s price had struggled to regain momentum after a sharp pullback. A glimmer of hope emerged when long-term holders (LTHs) began accumulating again, suggesting a potential shift in market sentiment. But that optimism was short-lived. Recent data shows that the HODLer net position change has dropped back below zero, signaling a renewed wave of selling among long-time investors.

This trend matters. LTHs control a significant portion of Solana’s circulating supply, so their decisions carry considerable weight in shaping the coin’s price trajectory. Their move back into sell mode could stall any immediate upward movement and potentially drag prices lower if the trend persists.

Despite this pressure, interest in Solana remains strong, particularly among new investors. Network data shows a steady rise in newly created addresses, a sign of fresh participation in the ecosystem. This influx of new users reflects growing confidence in Solana’s long-term value, even amid short-term uncertainty.

The market appears to be caught in a tug-of-war between these opposing forces: experienced holders taking profits and newcomers buying in, anticipating future gains.

Looking ahead, Solana must decisively clear the $150 resistance level to confirm a bullish breakout. If that happens, flipping the next hurdle at $152 into support could open the door for stronger upside momentum. Failing to do so, however, might result in a period of sideways consolidation, with the price potentially drifting down to $144 or even $136 as traders wait for clearer signals.