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Solana price crash eases as contrarian whale buys the dip

Solana price crash eases as contrarian whale buys the dip
Solana (SOL) experienced a significant price crash, hitting a multi-month low before stabilizing after a whale made a large purchase. The whale withdrew $14 million worth of Solana from Binance and staked it, signaling confidence in a potential bounce. This purchase occurred just before a $1.75 billion token unlock, which typically has a bearish effect on price. Solana has also faced concerns about its future, as meme coins in its ecosystem have seen significant losses. Despite these challenges, Solana's recovery coincided with a rebound in U.S. equities. However, Solana is approaching a death cross, which could indicate further downside. There is a chance for a rebound after the token unlock, potentially pushing SOL back toward $170 resistance.

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