Potential Risks for Solana as Whale Sell-Offs and Unstaking Create $170 Support Focus
Main Idea
Solana (SOL) faces significant selling pressure due to whale sell-offs and Alameda's unstaking of $35 million worth of SOL, making the $170 support level critical for its market stability.
Key Points
1. Alameda unstaked $35 million worth of SOL, raising concerns about distribution risks and market pressure.
2. Over 226,000 SOL were moved to exchanges by whales, indicating increased selling pressure.
3. The $170 support level is pivotal for Solana's price stability; failure to maintain it could lead to further declines.
4. Whale sell-offs, including a $17.2 million transaction, often precede price declines, adding to market volatility.
5. Despite the sell-offs, SOL shows buyer resilience amid recent market fluctuations.
Description
Solana (SOL) has recently faced strong whale sell-offs and an important unstaking event from Alameda, making the $170 support level critical for future price stability. Heavy whale selling pressure: Whales
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