HarryPotterWifHatMyroWynn10Inu priceSOLANA

Top chains by net inflows over the past week: 🥇Berachain 🥈Arbitrum 🥉Solana

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As a vote on the proposal to change Solana's emissions mechanism draws nearer, more critics are emerging

Solana (SOL) has continued a strong bullish run, increasing by 4.14% in the last 24 hours. The price climbed from $136.66 to over $144 before settling slightly at $142.39 . Even with lower trading volume, the overall market sentiment stays positive. Investors are watching closely key resistance and support levels. They want to see if the uptrend will continue or reverse. Technical indicators are giving mixed signals. This means SOL’s movement on March 6 could hinge on breaking critical levels and keeping bullish momentum. SOL has formed crucial support levels, ensuring stability during price pullbacks. The strongest support zone is at $136.66 and is the lowest price seen lately. Also, the $138-$140 range acted as a consolidation zone leading up to the latest rally. This shows active buying interest in this area. If the price falls below these levels, further corrections down toward $135 could occur. Looking at resistance, the highest point reached in this cycle was above $146. This marks a major barrier for additional gains. The $144-$145 range also proved to be a difficult level to overcome. The price met selling pressure around this area. A clear breakout above $146 could open the door for further upside potential. This could possibly push SOL up toward the $150 mark in the short term. Related: SOL Price Prediction: How Will 3 Million Unstaked Tokens Affect Its Value? Technical Indicators and Momentum: Momentum indicators show mixed signals for SOL. The Relative Strength Index (RSI) is currently at 39.84. This indicates weak momentum. While the RSI has risen from oversold territory, pointing to a possible rebound, it remains below the neutral 50 level. This shows that buying pressure is not yet dominant. The Moving Average Convergence Divergence (MACD) indicator presents a slightly different picture. The MACD line has crossed above the signal line, hinting at a potential bullish reversal. However, the histogram stays negative. This means bearish momentum has not completely faded. If the MACD keeps rising, it could confirm a trend shift upward. The derivatives market data shows mixed trends. According to Coinglass data , trading volume in Solana’s derivatives market has dropped by 28.06% to $15.58 billion. This suggests lower speculative activity. Yet, open interest has increased slightly by 0.81% to $3.99 billion to indicate that traders are still placing bets on future price movements. Related: Solana Futures ETFs Listed on DTCC, Spot ETF Hopes Rise Options trading presents a different trend, with volume rising by 11.71% to $5.28 million, signaling growing interest in SOL’s price action. Moreover, options open interest has surged by 34.76% to $10.77 million, suggesting a rise in demand for options contracts. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

FTX/Alameda Research unstaked 3.03 million Solana (SOL) tokens valued at approximately $432.5. The 37 different wallets received these tokens because their owners intended to place them on major cryptocurrency exchange platforms such as Binance and Coinbase. Since November 2023, FTX/Alameda has conducted its largest SOL unstaking operation through this move. Market price uncertainty rises because 11.2 million SOL tokens are planned for release in March 2025. Major exchanges received $986 million from FTX/Alameda when the organization removed 7.83 million SOL from staking between November 2023 and the present. Large mass movements have induced price fluctuations on Solana while individual unstaking activities from these events generate market effects. These successive Solana transfers show an organized sell-off strategy, thus creating market instability because investors become hesitant because of potential selling pressure. FTX/Alameda unstaked and distributed 3.03M $SOL ($432.5M) to 37 wallets, likely for deposits to #Coinbase and #Binance ~3 hours ago! This is FTX/Alameda’s largest unstake since November 2023 and likely part of the 11.2M $SOL (~$1.5B) set to be unlocked in early March. Since… pic.twitter.com/VfTf5j50GG At this time the cost of Solana fell by 19.46% to the market rate of $140.88. The market uncertainty continues to rise, which results in SOL prices trading between $178.63 and $139.43. The cryptocurrency market decline alongside FTX/Alameda’s unstaking procedure created more downward pressure on SOL’s market value. Solana experienced a 19.16% reduction in market capitalization which reduced it to $69.58 billion alongside a trading volume decline of 23.37%. The market figures coupled with the reduced activity levels indicate a deterioration of market liquidity. Solana’s Fully Diluted Valuation (FDV) demonstrates $81.56 billion resilience despite the negative market trends. Solana’s price may face additional volatility because FTX/Alameda keeps making token movements. Investors closely monitor Solana markets as the platform plans another important release in March 2025. SOL tokens will probably experience more market volatility because of present sell-offs together with present market conditions during the upcoming months. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.