The ground price fell below $ 160 for the first time since November 2024 because it remains stuck in a steep downward channel. Solana had difficulties recently due to the increase in sales pressure and a drop in network activity. Several chain metrics have decreased, as well as DEX activity for the 5th consecutive week. This indicates that the potential defies in advance because Sol is facing a level of key resistance when there has been a substantial increase in investors’ confidence in other tokens like Ethereum.
The main reason for the downstream action of the ground is supposed to be binance, which has strongly sold the token. The token has been a lowering for 5 consecutive weeks at times when $ 2 billion in ground are about to unlock. On the other hand, the drop -down flags on the token are asleep while Wintermute, a main supplier of liquidity, has removed a huge amount of binance soil in the past hours.
According to some reports, they withdrew $ 38 million in Binance soil, which suggests a probability of selling the token at the heights, which could create high sales pressure. This can also lead to a significant correction due to the sale of panic, opening the way to the platform to accumulate soil at reduced prices. Currently, the soil price has broken down crucial support, which alludes to a drop of less than $ 150 which could be imminent.
Solana’s daily table flashes massive lowering signals while the token lost crucial support at $ 158 after a brief consolidation. The Gaussian canal has become a lowering while the price fell sharply below the channel. This suggests that the token must undergo a huge recovery phase to return the Haussier canal. On the other hand, the Chaikin silver flow (CMF) fell below 0 after maintaining the average levels since December.
Currently, the downstream force has increased compared to that of the Bulls, which should drag the price to the local support area below $ 140. If the Solana (ground) price does not hold $ 150, the downward action should slide the levels below the beach, in the support area between $ 138 and $ 139.
