CandleFocus Solana’s (SOL) Path to $160 in Danger After Massive Whale Sell-Off
2024-09-26
Author: Content Editor
A Solana (SOL) whale has recently unstaked and sold their holdings on Binance, raising concerns about the sustainability of the token's price rally. Similar sales in the past have led to double-digit price drops in SOL. However, bullish indicators such as the Parabolic Stop and Reverse (SAR) indicator and the Chaikin Money Flow (CMF) suggest a strong upward trend and high buying pressure, respectively. Sustained buying pressure from other market participants could offset the impact of the whale's actions and drive SOL's price higher. On the other hand, if the whale continues liquidating its holdings, SOL's price could drop by 27%.
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