- Solana fell 13.5 % in thirty days, as two losers recorded for 4 days within nine days.
- The size of the futures contracts has decreased to $ 4 million, with sellers clearly exceeding buyers, indicating widespread downcrew.
Solana [SOL] It was under fixed sale of sale since it reached a local summit of $ 168 last week.
In just four days, there were successive losing lines-the second of this in 9 days. At the time of the press, Sol was traded at $ 145.39, which reflects a 13.53 % decrease for 30 days.
Both daily and weekly plans have drawn a similar declining tone, raising new doubts about the reflection of the direction.
Why do they sell? This is what the standards say
According to Ambrypto analysis, Solana decline primarily due to the massive pressure pressure.
With the low prices, profit holders began to sell to avoid losses and lock gains, which leads to a ripple effect on the market.
Source: Coinalyze
According to Coinalyze, the volume of the sale/sale process showed that 386.5 thousand Sols have been sold over the past four days, leaving a negative delta of 50 kilos.
Dex activity rises, but it is not optimistic
In addition, Solana DeX sizes continued to rise, reaching $ 7.1 billion, while prices fell.
When the price decreases during the high size DeX, it indicates pressure from the sale side where investors run to safety.
Source: Artemis
On an equal footing, high -removal Dex DEX mode shows panic, which is a declining defensive market signal. Consequently, investors avoid the market and sell the chain, which leads to the trading activity moved by volatility.
It is clear from this jaw in panic by the recent decline in the Solana Futures size from Messari.
The volume of the folder decreased to only $ 4 million, with only $ 1.4 million of “purchases” compared to $ 2.57 million in “sale”.
Source: Messari
This means that most of the market participants seemed convinced that Solana has not exceeded now, and they were suffering from risks accordingly.
The upscale issue? It is still alive but …
Amid the growing pressure of Solana, Glassnode declarations expected key levels to watch.
According to analysts, based on CBD dataSolana had a strong support area ranging from $ 145 and $ 147, with 13 million Sol icons.
But if this level allows the field, the sale can quickly intensify.
Source: Glassnode
If 145 – 147 dollars are suspended, it indicates that these 13 million distinct symbols are in safe hands. This can raise a recovery towards a region between 155 to 157 dollars, where 31 million swords are currently being held.
At 155 dollars to 157 dollars, strong resistance is built because there are 31 million detained Sol icons.
Of course, the resistance will harden there, just as it will achieve about $ 166, which is the next key area where 29 million symbols sit. At this point, former buyers may seize any gathering.
