Solana (Sol) Price dropped to a 2025 less than $ 125 in Feb.
🚨 New: The CME Group to launch Solana Futures on March 17, awaiting CFTC regulation review. pic.twitter.com/sgjdxxgdqr
– Cointelegraph (@cointelegraph) February 28, 2025
Solana Bears failed to i -Pin Sol under $ 130
Since Feb. During this time, a clear difference of bullish formed between price and relative -child index (RSI).
Solana 4 hours chart. Source: Cointelegraph/TradingView
As described in the chart, the rally at the 4 -hour chart took place behind these bullish divergences. Bullish signal leads to BTC swing pattern failure in the 1-day chart.
A swing pattern failure is an indicator of the recurrence used to observe the weakness in the dominant trend and identify potential returns.
Solana 1-day chart. Source: Cointelegraph/TradingView
As reviewed, Solana is currently looking to close above the past three days, and a confirmed near above $ 143 will prove Bullish SFP. The rally took place following the RSI entering an oversold territory, which had marked the lowest level since June 2023, when Solana was worth $ 15.
Immediate Overhead resistance remains at $ 160. Flipping this level in support will further prove $ 125 as local bottom.
Will Sol sell again in March?
As widely discussed In the past monthSolana’s token unlocks are live on March 1, which will see 11.2 million soles entering the switch -moving supply. There will be a 2.84% increase in the total market cap, which costs $ 1.62 billion so far.
The unlock event is largely based on investors, along with companies such as Galaxy, Pantera and Figure looking to secure between $ 150 million to $ 3 billion in the unknown gains.
While the larger market is expected of volatility after the event, keyrock trading, a crypto market manufacturer platform, predicted Outcome based on review data from more than 16,000 token events.
Keyrock Trading featured that investor-based unlocked witnesses have witnessed the average 5% correction 30 days before the event. In this case, Sol suffered a significant 60% decline in the last month.
Weight unlocking per category. Source: x.com
The platform called the unlock event as a medium-size (1-5% supply) and said,
“Medium unlock history to see a ~ 8% decline within a 30-day post-unlock.”
Based on the data, Sol is expected to witness some form of downward pressure for a short period of time March 1. Jeremy, a crypto businessman, predicted Another lower one is on cards for Altcoin, where Solana can build a bottom of around $ 110- $ 120. However, the businessman remained open to the scenario of $ 125 as a strong support level.
Related: The Bitcoin Price has bouncing 5% As Analyst sees Crypto Slump End in March
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
