Fundamentals

After the inauguration of American President Donald Trump, the crypto market was shaken by several events which caused the crypto market to be in a state of "fear".

Starting from the emergence of the $TRUMP and $MELANIA meme tokens, the launch of the AI ​​company DeepSeek from China, Trump's import tariff war, and today the $LIBRA meme coin scandal, which allegedly involved the President of Argentina, insider trading practices and the disappearance of US$ 4.32 billion from the market in less than 24 hours.

Although $SOL is one of the few coins that continues to show strong potential for growth amidst strong selling pressure in the crypto market, this latest incident has made many crypto analysts question the security and transparency in the Solana ecosystem again. Of course, this gives rise to negative market sentiment towards the $SOL coin

Another problem faced by Solana is the token unlock schedule which can add to selling pressure in the market. This means the release of more than 15 million $SOL tokens in the next three months (February, March, April). Based on current prices, this amount is equivalent to more than US$ 7 billion that will enter market circulation.

Although many are worried about the impact of unlocking $SOL, not all crypto observers agree that this will cause the price of $SOL to fall. They argue that the number of tokens to be released is only 2.3% of Solana's total supply and market capitalization. Currently Solana is still recording a daily trading volume of US$ 3.65 billion, meaning the market may still be strong enough to absorb this large sell-off without causing an extreme price crash.

Technical point of view

Solana price has seen a 30% drop in the last month. It is possible that this price drop is part of the impact of the $SOL coin unlock currently underway.

If the price of $SOL falls below US$ 180, selling pressure could increase and push the price down to the US$ 150 level, which is the suppot area from November 2024. And when negative market sentiment persists until March this year, I predict there will be a bearish trend for $SOL until the price will fall to the level of US$ 93 - US$ 103.

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Disclaimer: This content is intended as an informative tool and is not investment advice or trading advice. Before deciding to invest in cryptocurrency, always do research, because crypto is a volatile and high-risk asset. We are not responsible for your losses or profits.