{"id":630035,"date":"2025-02-25T03:29:29","date_gmt":"2025-02-25T03:29:29","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=630035"},"modified":"2025-02-25T03:29:29","modified_gmt":"2025-02-25T03:29:29","slug":"solana-price-prediction-as-wintermute-withdraws-40m-in-sol-from-binance-ahead-of-biggest-solana-unlock-ever-traders-turn-to-this-ico-for-100x-gains","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/solana-price-prediction-as-wintermute-withdraws-40m-in-sol-from-binance-ahead-of-biggest-solana-unlock-ever-traders-turn-to-this-ico-for-100x-gains","title":{"rendered":"Solana Price Prediction: As Wintermute Withdraws $40M In SOL From Binance Ahead Of Biggest Solana Unlock Ever, Traders Turn To This ICO For 100X Gains"},"content":{"rendered":"

The Solana price plunged over 13% in the last 24 hours to trade at $141.58 as of 9:53 p.m. EST as investors offload their holdings in the crypto on the market.<\/span><\/p>\n

The drop in the SOL price comes after market maker Wintermute <\/span>withdrew<\/span><\/a> $40 million in SOL from leading crypto exchange Binance ahead of a $2 billion token unlock, which is the largest in Solana’s history. This move has raised concerns over selling pressure as market sentiment worsens.<\/span><\/p>\n

Solana Price Resting On Support<\/span><\/h2>\n

\"SOL<\/p>\n

4-hour chart for SOL\/USD (Source: GeckoTerminal)<\/span><\/p>\n

The <\/span>Solana<\/span><\/a> price is resting on a key support level at $140.05, according to <\/span>GeckoTerminal<\/span><\/a>. Should the altcoin fall below this technical crutch in the coming hours, it could be at risk of plunging all the way down to $122.74 in the short term.<\/span><\/p>\n

In a more bullish scenario, traders might end up identifying SOL’s current price as a buy opportunity. This could lead to a rebound off of the $140.05 support and a potential test of the $161.98 mark, which was turned into resistance over the past 24 hours. A 4-hour candle close above $161.98 could then give the Solana price the foundation needed to rise to $185.06.<\/span><\/p>\n

Technicals Suggest The Solana Price Will Keep Falling<\/span><\/h2>\n

From a technical standpoint, indicators on SOL’s 4-hour chart warn the crypto’s price might continue to drop in the next couple of hours. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bearish signs.<\/span><\/p>\n

Over the past 24 hours, RSI readings have plummeted along with the Solana price. This steep drop in the indicator’s values signals a strong decrease in buyer power and overwhelming seller strength. Now, the RSI is in deep oversold territory at around 16. <\/span><\/p>\n

Although the low RSI reading could be seen as a buy signal, given that it suggests SOL’s upside potential is currently greater than its downside potential, the negative slope of the RSI line warns that sellers are still in control of the <\/span>Solana<\/span><\/a> price. It’s not uncommon for RSI values to remain low for sustained periods of time when a crypto is being dumped.<\/span><\/p>\n

Meanwhile, momentum favors bears, as suggested by the MACD line’s positioning below the MACD Signal line. With the growing gap between the two technical indicators, it seems that sellers show no intention of easing their pressure on the Solana price either.<\/span><\/p>\n

With the Solana price at the mercy of sellers and negative sentiment in the market, investors will likely turn to a new SOL layer-2 presale token called <\/span>Solaxy (SOLX)<\/span><\/a> to protect their capital. The new crypto is not yet exposed to broader market swings and popular YouTube channel 99Bitcoins, with over 725K subscribers, believes it could soar 100X after launch.<\/span><\/p>\n