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Why Solana Price is Falling Suddenly?

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Summary
Nutrition label

75% Informative

Solana price drops below $ 125 as FTX and Alameda Research's ongoing liquidation adds sell pressure.

Over 8 million SOL tokens unstaked since November , adding fuel to Solana 's price decline.

Market participants are concerned about the 5.5 million Solana tokens, currently valued at around $693 million , that remain under the control of FTX .

If Solana price manages to break through the falling wedge pattern and surpass the $ 180 sell wall, it could potentially revisit its previous high.

However, until these technical levels are tested and confirmed, the bearish pressure from ongoing FTX liquidations will likely continue to weigh on the price.

VR Score

63

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54

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69

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formal

Language

English

Language complexity

52

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not offensive

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Time-value

short-lived

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