Solana, which has an important place in the crypto currency market, was observed a harsh decline in August 2. The price decreased to 163 dollars, while the last 24 hours of a loss of 2.86 percent reported. It is seen that investors are worried about the movements of the whales that transfer in large quantities, especially in large amounts.
Whale Sales and Effect on Long Positions
The role of major investors called whales in determining existing market conditions stands out. It is stated that Solana is sold in the market worth approximately $ 17 million. It is recorded that this sales put pressure on the price and that investors in long positions experience serious losses.
According to experts, such losses after whale sales may adversely affect the general appearance of the market. In addition, it is reported that the long position of $ 57 million at a record level in recent years is liquid.
In the assessment made by Coingape’s analysis team, “Whale sales and large liquidation movements in Solana may damage investor confidence and increase the risk of decreasing the price to 120 dollars.” expressions were used.
Change in Technical Outlook
In the technical analysis, a downward trend is observed in the current price structure. In particular, it is predicted that the decrease -prone structure continues and the price may decrease to 120 dollars. Experts, technical indicators put pressure on the price, he says.
Market participants should be cautious and measures should be taken against possible price drops. Some analysts, “The last fluctuation in Solana is a risky environment in the short and medium term.” comment.
In line with the latest developments, investors should closely monitor market dynamics and make their decisions by taking into account such movements. It is emphasized that Solana’s future price movements may vary depending on the steps of big investors and global market conditions.
The analyzes reveal that the factors that cause Solana decrease in current conditions should be carefully monitored. The sales of whales, the liquidation of long positions and the combination of technical indicators may be decisive about how the market will develop in the coming days.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
