The problem of paradise is Proper idiom that describes the current Solana (SOL) ecosystem. The most popular L1 token has attracted bad promotions due to the recent Libra Memecoin Fiasco, which has been erased more than $ 4.3 billion within 24 hours.
While the rival community is shooting at Solana’s recent WOES, a large -scale SOL token unlock event has provided more fuel for fire, which can be potentially added to the sixth largest cryptocurrency sales pressure.
Buying Solana is “dangerous”
Artchick.eth, an anonymous password commentator last month, explained the release of Solana’s token lock in 2025. More than $ 7 billion in Solana will be in circulation.
Solana token unlocks the 2025 schedule. Source: x.com
Analyst
“Most of this brush was bought by Galaxy at $ 64 at the FTX auction and is still a very healthy profit. Until this brush is unlocked, another to $ 1B of soles will be produced and dumped through inflation. ”
Similarly, the encryption trader, Runnerxbt, mentioned that purchasing Solana is a “dangerous” period. In the same locking event, the trader emphasized that companies such as Galaxy, Petera, and Figure match that if the SOL lock is released, it matches unauthorized profits to extract $ 3 billion, $ 1 billion and $ 150 million in $ 150 million. .
Inference is that most companies are likely to sell their allocation because there are few incentives to hold SOL while the market sentiment is deteriorating due to the recent Libra -owned memo incident.
In light of this, Kelly Greer, executive director of Galaxy, tried to dismiss the current FUD surrounding the unlocking. GREER pointed out that the upcoming unlocked release is only 2.31%of the total supply and market cap, and Solana has registered $ 3.6 billion in 24 hours of 24 hours. It means that the market absorbs the sales pressure to be unlocked.
As a result, technical analyst Deftsuo believed that Sol Fud was “peaking.” Analyst
“Max fud is all sorted at once. Fade aunt. Fire Station Upgrade and SOL ETF (Integrated Staying) in 2025-2026. “
Related: Milei-endorsed libra token was an ‘open secret’ in Memecoin Circles-Jupiter
Is Solana an obvious deal?
The clear direction of the SOL is now unclear, but futures traders are currently shortening Solana. REETIKA, a cryptographic merchant, pointed out that short sellers were “aggressive” in the last 24 hours, and that open interest and financing rates are diverging. According to an anonymous merchant Tyler, the current OIs have risen and the financing rate is negative, and the short -term ratio is 4: 1.
SOL/USDT price of binance. Source: X / Tyler
The former profile trader also pointed out that this is the most important OI of SOL for a short period of time. The merchant also stressed that most of the OIs were added after Altcoin lost $ 190.
1 day chart of solana. Source: COINTELEGRAPH/TradingView
From a technical point of view, Solana’s daily chart seems to have been priced at least a part of the upcoming unlock. The event has been the knowledge of the public for a while, and many analysts have discussed potential effects and have dropped 30% over the last month. But if you lose $ 180, you can sell prices and lower prices with order blocks between 168 and $ 155, formed in November 2024.
Another major trend reversal of the work can be an 200 -day EMA Bearish Flip. If Solana can’t close more than $ 190 on February 17, it will end under the main indicator for the first time since October 10, 2024. This can potentially indicate the beginning of the rapid drop of Altcoin for the next few weeks. .
Related: Why is Solana (SOL) prices falling today?
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.