Although Solana (left) made a strong start, he has experienced serious fluctuations in recent months. Crypto currency, which reached new summits, was depreciated due to market corrections and sales prints. In the last 24 hours, the left, which has decreased by 19 percent, fell to 128.14 dollars. The market value fell 70.16 billion dollars and the transaction volume to 9.56 billion dollars. Large -scale transactions of FTX and Alameda are among the main factors affecting price movements.
Causes of the decline in solana price
The main reasons for the fluctuations in the solana price include large sales transactions and market conditions. Recently, FTX and Alameda released about 3.03 million left. This amount corresponds to $ 431.3 million and increases liquidity pressure. Investors faced the risk of liquidation of $ 300 million with the price of $ 127 due to sales pressure.
In addition, the investment of 24,799 SOL (about $ 3.38 million) to Binance increased sales pressure. Similar operations are expected to continue in the coming months. On the other hand, solana’nın rise to $ 177.88 the previous day drew attention. However, despite the high trading volume and open positions, he could not hold it at this level. Market players closely follow the support levels of around $ 120.
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Effect of Bitcoin and Market Movements
Bitcoin 
$83,958.40Price movements continue to direct the Altcoin market. Bitcoin’s recovery in March may limit Solana’s harsh fall. According to past data, when Bitcoin rises, many Altcoins are in a similar recovery process.
The existing analyzes predict that the left price will be difficult to decrease below $ 100, but may decrease to $ 120. Investors closely follow large trading volumes and liquidation levels. The price of the price at the critical support points stands out as one of the most important factors to determine the future aspect of the market.
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.
