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Solana faces selling pressure as Pump.fun offloads $5.83M SOL, hitting resistance at $122.70 amid strong institutional demand.

Market News
27 Sep 2026
AMBCrypto
View Source
Bearish
Solana faces selling pressure as Pump.fun offloads $5.83M SOL, hitting resistance at $122.70 amid strong institutional demand.

Pump.fun recently sold 47,994 SOL worth about $5.83 million, adding to its total sales of 5.24 million SOL valued at $848 million, increasing market supply and pressuring Solana's price recovery. Despite this, strong institutional demand, including record ETF inflows, supports SOL. The price hit resistance at $122.70 and was rejected, with the RSI indicator signaling weakening buying strength. SOL remains above key support at $110.13, but failure to break resistance could lead to a deeper price correction.

Solana's market cap on Pluang stands at Rp1.306,54 trillion as of Sep 27, 2026 21:11 WIB, with a 24-hour trading volume of Rp55,48 trillion. Despite recent sales by Pump.fun, SOL shows resilience with a 1-day price gain of 1.90% on Pluang and a buying interest of 62% among users. The typical hold time of 70 days indicates moderate investor confidence amid ongoing price challenges around the $122.70 resistance level.

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