Solana Price Plummets as Market Pullback Triggers Key Support Watch

The Solana price is experiencing a significant pullback, dropping sharply after a decline in open interest. Traders are closely monitoring the key support zone of $133-$136 to gauge the next major move. 62% of the futures open interest has dropped, signaling dwindling participation and increasing pressure on this crucial area. Analysts have identified a strong correlation between SOL’s price drop and these outflows, with heavy deterioration observed since mid-October when momentum faded. The technical picture is marked by a falling wedge near $133-$136, suggesting a potential relief bounce toward $150-$158 if buyers defend this demand zone.