don't buy
Solana Set to Drop to $120 Following Whale Dump and Rounding Top Formation
I believe Solana is currently facing significant selling pressure, with a whale liquidating $17 million worth of SOL. This large dump has contributed to a surge in long squeeze setups totaling about $57 million, indicating a bearish sentiment building among traders. The technical analysis points towards a rounding top pattern, which typically signals a potential reversal or correction in the price trend. I am closely watching the next support levels and the possibility of Solana dropping to around the $120 mark, especially if selling momentum persists.
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AI Analysis
The recent activity involving a whale selling off $17 million worth of Solana tokens has caused notable concern among traders and investors. Such large-scale dumps often lead to increased volatility a...
AI Recommendation
Given the current technical signals and recent whale activity, I recommend maintaining a cautious stance on Solana. Traders who are already holding long positions should consider tightening their stop...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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