{"id":438143,"date":"2023-09-11T16:11:25","date_gmt":"2023-09-11T16:11:25","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=438143"},"modified":"2023-09-11T16:11:25","modified_gmt":"2023-09-11T16:11:25","slug":"solana-sol-price-prediction-could-sol-be-in-danger-with-increased-sell-off-pressure","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/solana-sol-price-prediction-could-sol-be-in-danger-with-increased-sell-off-pressure","title":{"rendered":"Solana (SOL) Price Prediction: Could SOL Be in Danger with Increased Sell-Off Pressure?"},"content":{"rendered":"

Solana has seen significant retraction in its recent price trend. <\/span>The asset is feeling the heat of the increased selling pressure<\/span>. SOL has gradually slipped below the $18.00 region during the early hours of today, September 11, 2023.<\/span><\/p>\n

Could Solana’s price be in danger of more price dips? <\/span><\/p>\n

SOL Records Alarming Fall?<\/h2>\n

As of 5:57 AM EST on September 11, SOL is <\/span>trading<\/span><\/a> at $17.75, reflecting a drop of 3% within the past 24 hours. <\/span>Similarly, the token plummeted by 10% and 28% over the past 7 and 30 days.<\/span><\/p>\n

Though the crypto market has been under the influence of the bears, Solana seems to be taking more significant pressure than most altcoins. SOL has lost its hold over the critical resistance level at $18.00.<\/span><\/p>\n

Solana’s continuous decline could be seen with a surge of over 18% in its 24-hour trading volume. <\/span>The increasing trading volume amid the decline in the price of Solana implies that the crypto token is currently under sell-off pressure by holders.<\/span><\/p>\n

FTX Proposed Asset Sell-Off Triggered FUD on SOL holders<\/h3>\n

One of the remarkable triggers for the massive sell-off and huge price decline for Solana is FTX’s<\/a> proposed crypto asset sell-off. <\/span>The crypto exchange is <\/span>seeking approval<\/span> to liquidate its crypto asset holdings valued at $3.4 billion in April this year.<\/span><\/p>\n

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FTX is expected to receive approval to liquidate the following assets on September 13th.$SOL<\/a> $685,000,000$FTT<\/a> $529,000,000$BTC<\/a> $268,000,000$ETH<\/a> $90,000,000$APT<\/a> $67,000,000$DOGE<\/a> $42,000,000$MATIC<\/a> $39,000,000$BIT<\/a> $35,000,000$TON<\/a> $31,000,000$XRP<\/a> $29,000,000<\/p>\n

They had $3.4… pic.twitter.com\/ydEohN23EX<\/a><\/p>\n

— Crypto Rover (@rovercrc) September 9, 2023<\/a><\/p><\/blockquote>\n