Solana (SOL) Price dropped to $ 125 on February 28 to 2025. However, Altcoin entered a 16%relief rally on March 17 after Chicago Mercantile Exchange (CME) announced the launch of Solana Futures. FutureS products are now waiting for regulatory approval of Commodity Mutures Trading Commission (CFTC).
🚨News: CME Group will start Solana Futures on March 17 and withheld the regulatory review of CFTC. pic.twitter.com/sgjdxgdqr
-COINTELEGRAPH (@coingraph) February 28, 2025
Solana Bears cannot fix less than $ 130
Since February 24, Solana has formed a series of low lowest levels, which leads to $ 125 on Friday, leading to an annual lowest. During this period, a clear optimism was formed between the price and the relative strength index (RSI).
Solar or 4 hours chart. Source: COINTELEGRAPH/TradingView
As described in the chart, the rally on the four -hour chart was held on the back of the river of this strength. The optimistic signal led to BTC’s swing pattern failure on the chart on the 1st.
Swing pattern failure is a trend reversal indicator used to observe the weakness of the dominant trend and to identify potential reversal.
SOLANA 1 day chart. Source: COINTELEGRAPH/TradingView
As we analyzed, Solana tries to get closer to the previous three days, and more than $ 143 will verify the strong SFP. The remedy rally showed the lowest level since Solana’s price reached $ 15 since June 2023 after RSI entered the territory without excessive territory.
The immediate overhead resistance remains at $ 160. Turning this level with support will further verify $ 125 on the local floor.
Related: Bitcoin Price HITS ‘Optimal DCA’ area after BTC traded from $ 50K to $ 70K after BTC
Will SOL be sold again in March?
As it has been widely discussed over the past month, Solana’s token lock release will be broadcast live on March 1, and 11.2 million SOLs will be circulated. The market cap will increase by 2.84% and is currently worth $ 16.2 billion.
Unlock events are mostly investors in which companies such as Galaxy, Petera and Figure are trying to secure unprecedented profits from $ 150 million to $ 3 billion.
After the event, the larger market expects volatility, but the encryption market manufacturer, Keyrock Trading, predicted the results based on the analysis data of over 16,000 token events.
Keyrock Trading emphasized that investor -based unlocks witnessed an average of 5%modification 30 days before the event. In this case, SOL has suffered significantly 60% decrease in the last month.
Category can be unlocked per category. Source: x.com
The platform stated that the unlocking event was called medium size (1-5%).
“Intermediate unlocking historically decreases to 8% within 30 days after the year.”
Based on the data, SOL is expected to witness any form of downward pressure in the short term after March 1. The encryption merchant, Jeremy, predicts that the other low low low low low low low low low level is on Altcoin’s card and Solana can form a bottom of about $ 110-$ 120. But the merchant was open at $ 125 scenario, a strong support level.
Related: Bitcoin price is 5% when analysts see the end of the crypto slump in March.
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.