CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
CoinGape 2025-02-24 23:45:38

Solana Price Could Drop To $109 As Whale Moves $127M SOL

While Solana price spirals downward, whales are moving sizable amounts of SOL, sparking fears of a selloff. On the flip side, analysts say the move could be a trigger for an accumulation spree amid prolonged bearish sentiments. Whale Moves $127 Million Worth Of Sol TO Unknown Wallet A Solana (SOL) whale has transferred 846,613 SOL to an unknown wallet in a single transaction amid falling asset prices. With Solana price hovering around the $150 mark, the transferred assets are valued at a hefty $127 million, spiking SOL’s daily trading volumes. While the sizable transfer appears to have gone under the radar, investors say the move could have far-reaching consequences for the beleaguered asset. A majority of traders are viewing the $127 million transfer as preliminary moves for a sell-off given prevailing sentiments. Only a handful of investors see the transfer as an accumulation play ahead of a market breakout. Solana Price Continues To Fall Onchain data indicates SOL has lost 11% in under 24 hours to settle at the $152 mark. Since the asset reached its peak of $294 at the start of the year, it has shed 49% of its value in less than a month. SOL’s market capitalization of $75.4 billion manages to keep it among the top cryptocurrencies by valuation. However, underlying metrics remain grim as it plays second fiddle to Ethereum in DEX weekly volumes. Solana network fees and memecoin activity have also taken a hit in recent weeks while the number of active Solana users fell to its lowest level in five months. SOL Expected To Slip Even Further Amid the unsavory metrics for SOL, chances for a break out remain unlikely for the asset. For starters, the Solana price descent has seen it fall below the 50-day and 200-day moving averages, setting the stage for a bearish death cross pattern. MACD and the Relative Strength Index (RSI) are painting a depressing picture for SOL with indicators tipping prices to reach $109. Optimists are pining for the Securities and Exchange Commission (SEC) to approve a spot Solana exchange-traded fund (ETF) expected to reverse the bearish trend. The post Solana Price Could Drop To $109 As Whale Moves $127M SOL appeared first on CoinGape .

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen