🚨 ¡#SOLANA IS DEFLATING! 📉 ETF PROFITS ARE EVAPORATING AND A 20% DROP LOOMS!😱💥
📢 The brief enthusiasm for Solana (#SOL ) following the announcement of its ETF has vanished in less than 24 hours! 💨 The price of SOL rose 5% to $160 on Monday, only to erase all those gains, leaving traders with a bitter taste! 📉 Weakness is evident across all timeframes: SOL fails to stay above key moving averages and continues in a downtrend since May, after being unable to overcome the $180 resistance!
The situation is critical: $SOL is trading near a key supply zone between $144.5 and $147.7, where more than 14% of the supply is concentrated. This level is the last hope! 🤞 If the price falls below $144, prepare for a possible 20% correction that could take SOL to $124 or even to the dreaded $95-$100 zone! 😱
Although a rebound above $160 could change sentiment, on-chain data shows that institutional demand and fundamentals remain weak. The concentration of supply at current levels could be both a support and a catalyst for a massive sell-off if bearish pressure increases! ⛈️
🤔 Do you think investors should prepare for an inevitable drop of 20% or more, considering the technical weakness and high supply concentration? 👇💬
