Solana Faces Make-Or-Break Moment As $1.77 Billion Unlock Looms
Solana is experiencing a downtrend, currently near the $157 mark, identified as the "last major support level." A bearish sentiment prevails, with a significant resistance level at $180.58, which Solana failed to reclaim, indicating potential further declines toward $127.05 if $157 is breached. Analyst Koroush Khaneghah notes that sellers dominate the market, exacerbated by negative sentiment around meme coins. Conversely, crypto analyst RunnerXBT highlights upcoming volatility due to a major unlock of 11.2 million SOL on March 1, valued at approximately $1.77 billion. Despite recent price drops and aggressive shorting, RunnerXBT advises against shorting SOL at current levels, suggesting a focus on long positions post-unlock. As of now, SOL trades at $158.
