Ether ETFs Push Green Streak to 14 Days as Outflows Return to Bitcoin ETFs
SOL Recovers to $147 After Flash Crash Shakes Out Weak Hands
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By CD Analytics, Siamak Masnavi|Edited by Aoyon Ashraf
Jun 6, 2025, 9:00 a.m.
- Solana dropped 8.1% to a low of $141.75 before recovering toward $147.40, forming a new ascending trendline, according to CoinDesk Research’s technical analysis data model.
- Flash crash at 01:20 was followed by strong buying activity, signaling potential bullish reversal.
- $150–$152 remains resistance, with support reinforced at $142 after massive trading volumes during the sell-off.
Price Action
Solana (SOL) faced intense selling pressure over the past 24 hours, dropping 8.1% from $154.48 to $141.75 before recovering to stabilize near $147.40.
STORY CONTINUES BELOW
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The sell-off was largely driven by rising geopolitical tensions and global trade concerns, which spooked risk markets.
The sharp drop included a mini-flash crash during the 01:20 hour, but strong buying quickly followed, highlighting continued interest in the asset even amid heightened volatility.
Technical structure now shows an ascending support trendline, while resistance at the $150–$152 zone marks a critical level to watch.
Technical Analysis Highlights
- SOL declined from $154.48 to $141.75, marking a range of $12.73 or 8.24%.
- Massive volume spikes (3.14M and 3.37M) occurred between 19:00–20:00, breaking previous support.
- Price bounced sharply at $142, forming a high-volume support zone.
- Flash crash at 01:20 dropped SOL to $144.93 on 24,507 volume, but strong recovery followed.
- Short-term ascending trendline formed from $142 with resistance near $150–$152.
- Latest price action shows stabilization near $147.40 on declining volume.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
Siamak Masnavi is a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends shaping the crypto market. He holds a PhD in computer science from the University of London and began his career in software development, including four years in the banking industry in the City of London and Zurich. In April 2018, Siamak transitioned to writing about cryptocurrency news, focusing on journalism until January 2025, when he shifted exclusively to research on the aforementioned topics.
