- 1.4 million SOL ($110M) moved to exchanges in 72 hours
- Price structure favors sellers with support likely $66–$70
- Rebound toward $84–$89 may retest broken structure, not signal strength
Over the past 72 hours, 1.4 million Solana ($SOL) tokens, worth $110 million, moved to exchanges. Analysts warn that this surge in inflows could increase short-term selling pressure, as traders may take profits or reduce exposure, signaling potential downward momentum while SOL hovers near key support levels.
Solana Exchange Inflows Hit 1.4 Million Tokens in 72 Hours
Data from Glassnode shows approximately 1.40 million Solana ($SOL) tokens, worth about $110 million, were transferred to exchanges in 72 hours. Analyst Ali Charts noted this represents a sharp increase in exchange balances, from 27.6 million to 28.6 million.
Such inflows typically suggest selling pressure, as holders move SOL to exchanges for liquidation. While inflows alone do not guarantee a price drop, the scale of $110 million warrants attention. Traders often monitor these patterns to anticipate short-term directional moves in Solana.
The movement coincides with recent price fluctuations, indicating some holders may be reducing exposure or taking profits. At press time, Solana trades slightly higher, up 0.59% to $80.93 in 24 hours, reflecting mixed sentiment amid these inflows.
Bearish Technical Structure Suggests Market Pressure for Solana
Crypto_Scient highlighted a breakdown from a daily bear flag and loss of the market structure shift near $85. SOL now trades below a key supply zone, indicating potential acceptance at lower levels. Failed consolidation channels reinforce bearish momentum.
Analysts note that any rebound toward $84–$89 could act as a retest of broken structure. However, such moves may confirm selling pressure rather than signal strength. Lower highs and expanding downside wicks suggest seller dominance continues.
The next major support for Solana appears between $66 and $70. Until SOL reclaims $90 with strong volume, the trend remains under pressure. Traders should monitor exchange inflows and market structure closely to gauge potential short-term moves.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
