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The Kryptos market passes through instability and solana (soil) is in the first line. From 1.er February, the fall of Bitcoin below $ 100,000 caused a shock wave on altcoins. Solan, whose course develops in a strong BTC correlation, has noticed that its price is falling below a critical bar of $ 200. The impact was not limited to price drops: investors massively reduced their exhibition, and therefore in three days downloading $ 367 million from spot markets. This massive disposal has reversed the market feeling, as evidenced by a long/short ratio dropped to 0.93, confirming the domination of sellers. While technical indicators indicate permanent pressure down, the rupture of current support could send a solana towards the new lower, unless a sudden recovery of demand comes to reverse this trend.
Solana under $ 200: The market is surrendered
1er February, Bitcoin fell below the symbolic bar of $ 100,000. This autumn led to the entire Kryptos market in lower dynamics. Altcoins have often undergone a domino effect and solana (soil) did not escape the riots. Its price quickly passed below $ 200, a key psychological threshold for investors.
Capital sales on spot markets illustrate the growing distrust of traders. According to Corcilass, more than $ 367 million were removed within three days, a strong signal for release. Such degradation of liquidity means that sellers dominate stock exchanges and weaken the application for Solan. This withdrawal was accompanied by a collapse of a long/short ratio dropped to 0.93. In addition, this image suggests that the positions down largely overcome those that strengthen the sales pressure on the soil. If this trend continues, the market could continue to bet on a new price correction.
Critical Technical Signal: For the new lower?
Technical signals confirm the simultaneous fragility of Solana, indicating a possible continuation of correction. The Chaikin Money Flow (CMF) indicator, which measures incoming and outgoing capital flows, is maintained at a neutral level for this moment. However, its disturbing convergence of the negative zone suggests a gradual reduction in demand. If this indicator switched below zero, it would translate a clear imbalance in favor of sellers, which means that capital outputs significantly exceed the items. Such a situation would emphasize sales pressure, which would increase the new drop in the price of land.
If this declining trend continues, technical projections believe that Solana could achieve new support at $ 187.71. This threshold would be a critical level that would probably determine the extent of the upcoming correction. On the other hand, if the buyer’s interest returned to show himself, he could turn the scenario. Renewal of demand would drive the land around $ 229.03, a level that would then play the role of resistance. The development of the market will largely depend on the feeling of investors and the possible reflection in bitcoins whose Solana carefully monitors the trajectory.
The current trajectory of Solana reflects the vulnerability of altcoins in the face of bitcoin fluctuations. As long as the global feeling remains down, a permanent jump seems to be endangered. The absence of Light Bull bulls encourages investors to be cautious, limiting the prospects of short -term recovery. However, the reversal of the trend cannot be ruled out. Restoring demand or revival of the global market could allow the soil to find bull dynamics. For the time being, the uncertainty is dominated: Solana will have to either find a stable floor or continue falling towards the new lower one.
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Graduate of Science after Toulouse and holder of Blockchain Consultant Certification, published by Alyrou, joined the adventure of Cointtribuni. The general public about this constantly evolving ecosystem. My goal is to allow everyone to better understand blockchain and take the opportunity they offer. I try to provide an objective analysis of messages every day, decrypt trends on the market, hand over the latest technological innovations and introduce the economic and social issues of this revolution.
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The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.