Will Solana (SOL) Price Collapse to below $100?
Sol is a local token for the Solana blockchain, and crypto enthusiasts have attracted great attention due to its recent price drop and whale activity. Today, on February 25, 2025, blockchain-based transaction tracker Crypto Beast posted an article on X (formerly Twitter) where he said: “Binance is selling all of its Solana Holdings.”
Current price motivation
This post on X has become popular, attracting significant attention from crypto enthusiasts and has reduced the price by more than 8% in the past 24 hours. With this sharp drop, SOL is currently trading close to $143, while trading volumes surged 130% over the same period, indicating an increase in traders and investors’ participation.
https://twitter.com/cryptobeastreal/status/18942904666612412870
A jump in trading volume does not necessarily indicate a bullish or bearish signal. Often, this happens when an asset undergoes a significant movement in the direction or undergoes a breakthrough or decomposition, prompting traders and investors to take action.
But, in this case, the sentiment is negative – the whales are unloading and the prices are down considerably, which leads to a multi-million dollar liquidation.
Solana (SOL) technical analysis and price forecast
In addition to the sale of its Solana Holdings’ Binance, another factor contributing to the Sol Berish trend is the upcoming unlocking of the $1.7 billion worth of Sol tokens on March 1, 2025.
With these developments in the cryptocurrency market, SOL has lost 45% of its value in the past 30 days and is close to the key support level of $130, which has a strong history of buying pressure and price reversal.
According to expert technical analysis, if SOL fails to maintain this support level and closes below $120 below the daily candle, it is likely to drop 35%, reaching another support level at $75 in the future.
$200 million worth of SOL outflow
According to Link Analysis Company Small shop. Data from spot inflows/outflows suggests that the exchange has witnessed the outflow of nearly $200 million worth of SOLs over the past 48 hours.
Such a large outflow of communications indicates potential accumulation and can lead to buying pressure and ups. However, given the current market sentiment, this is still doubtful.
