🚨 Solana Price Alert: Approaching $10 🤔 – What You Need to Know! 🚨

Key Factors Influencing SOL’s Price Movement:

✅ FTX Repayments Impact: The defunct FTX exchange is set to begin creditor repayments in May, with 61% of its $800 million on-chain holdings in Solana. This could result in liquidation pressures and market volatility.

✅ Technical Breakdown: $SOL is currently trading within a bearish triangle, with crucial support at $118 that has already broken while I'm writing this post. Soon SOL could lead to further declines, potentially hitting $99 or lower.

✅ Market Sentiment: Despite a broader market recovery, Solana remains under pressure, trading below key moving averages, indicating weak investor sentiment.

Some analysts remain optimistic, predicting that SOL could reach $380 by the end of 2025, driven by growing adoption in DeFi and NFTs. However, with current technical indicators pointing to potential declines, caution is advised.

This is not financial advice. Always do your own research before investing.

#Solana⁩ #SOL #CryptoNews #CryptoAnalysis #FTXSolanaRedemption