Amid the uncertainty in the market, Solana (SOL), the fifth largest encrypted currency in the world by the market roof, appears to be high and prepares to continue its decline in the coming days. With this remarkable decrease, Sol has seen a large 37 % loss in the past thirty days.
The reason for the low prices of Solana (SOL)
However, the main reason behind the low prices appears to be the continuous downsic morale and the upcoming version of the Sol on stock exchanges next month.
According to the latest report, the encryption market is scheduled to witness the cancellation of a lock of 11.2 million Sol icons worth $ 1.7 billion on March 1, 2025. In addition, the smaller cancellation will follow on April 1 and May 1, adding $ 13.75 million to the offer.
This big symbol started on March 1 to influence the Solana price, which may explain a 37 % decrease in February.
Current price momentum
Sol is currently trading near $ 157.90 and has decreased more than 7 % over the past 24 hours. However, during the same period, the trading volume increased by 157 %, indicating an increase in the participation of traders and investors amid the morale of the Habbiyah market.
Solana (Sol) and the next levels
According to expert technical analysis, the Sol price appears to lose its decisive support at $ 155. Based on the latest procedures for historical prices and patterns, if Sol succeeds in violating this main support and closing a daily candle less than 155 dollars, we may see a decrease in prices more than 22 %, up to the level of $ 120.
Currently, Sol is traded without the SIA moving average (EMA) on the daily time frame, indicating that the original is in the direction of a decline.
At a value of $ 77 million of the external flow
Despite the declining procedure and morale in the market led by the next distinctive code worth billions of dollars, whales and long -term holders seem to accumulate Sol, according to Analytics on the series Coinglass. The immediate flow/external flow data reveals that exchanges have witnessed an external flow of more than $ 77 million of Sol in the past 24 hours.
This important external flow of stock exchanges indicates a potential accumulation, which may create the purchase pressure.
