SOL Token Slides 3.68% as Market Correction and Resistance at $144.5 Challenge Bullish Momentum

Solana (SOLUSDT) experienced a 3.68% price decline in the past 24 hours, closing at $128.89 on Binance from a 24-hour open of $133.82. This downward movement is primarily attributed to sustained bearish pressure following a recent market correction, consistent net outflows from both spot and contract markets, and a sharp rejection near the $144.5 resistance zone. Increased selling by major holders and overall market sentiment contributed to the corrective trend, despite ongoing ecosystem growth highlighted by higher daily transactions, active wallets, and rising total value locked (TVL) in Solana's DeFi sector. Current metrics show robust 24-hour trading volumes and a market capitalization estimated between $74 billion and $80 billion, reaffirming Solana's position among leading cryptocurrencies.