The price of Solana is facing a 50 percent reduction caused by the rising triangular formation due to the sales of Altcoin whales and the fall trends triggered by the falling network activity.
Solana is in danger of decreasing the price
If the price of solana experiences a downward break from the rising triangular formation and a complete decrease rotation is confirmed, it may decrease by 50 percent to $ 60. Speaking of the chain shows that large investors (whales) sell the left to prepare for this decline.
The price of Solana is traded at $ 126 today and experienced a 3 percent decrease in the last 24 hours. This level was recorded as Altcoin’s lowest value in the last two weeks. The overall sales pressure in the crypto market is increasing due to the fears of inflation in the United States.
This wave of sales led to more than $ 12 million left liquidation, and more than 90 percent of the liquid positions were long (Long) positions. This caused investors to worry about. Famous analyst Ali Charts shared an estimation of a decline, which predicts that the price of Solana will be on 60 dollars.
According to Ali’s analysis, the solea has created a triangular formation that rises. The most critical support level in this formation is $ 125. If this support level is broken, a 50 percent decrease may be triggered and the left price may decline to a very monthly bottom.
Altcoin price remained below critical support level
At the same time, another analyst named Crypto Patel observed that a downward trend was confirmed by stating that Solana fell below an important demand zone. Patel advised investors to partially take their profits in order to reduce their damages and to set their damage stop-loss orders to the attempt point.
While the sale of Altcoin whales accelerates, defi volumes decreased
The recent solana price decrease has led to an increase in whale sales activities. According to Lookonchain data, a whale address unstake 60.289 Sol (about $ 7.67 million). This reflects the expectations of big investors that the left price of the left price will decrease.
Whales may be selling because the solana price falls below 100 dollars and concerns that they will reach their lowest level of one year. However, the diminishing network activity makes large investors uneasy.
According to fashion show data, the decentralized stock market (Dex) volumes in the Solana network have decreased to the lowest level of the last six months. At the time of printing, solana weekly dex volume was recorded as $ 14 billion. This figure means a greater decrease in January 2025 than a $ 97 billion summit.
The decrease in defi activities with the price reduces market confidence in Solana and can accelerate ongoing sales activities. This strengthens the decline tendencies that may lead to a psychologically important $ 100 level and decrease to $ 60.
