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This event has fueled what some analysts call “peak FUD” (fear, uncertainty, and doubt) within the Solana ecosystem as concerns mount over the potential market impact.
tbh rn is a pullback across crypto following equities flush after German election results and Zelensky hinting he won’t hold elections…
Solana is facing peak FUD rn alongside cryptos retrace across the industry, everyone is still scared post-libra and with unlocks fud still…
— Bastille (@BastilleBtc) February 24, 2025
Traders are particularly wary of the unlock’s implications, given the possibility that the FTX estate may liquidate a significant portion of its holdings to meet outstanding obligations.
Historically, large token unlocks have exerted downward pressure on prices as traders react by preemptively selling or hedging their positions. This appears to be occurring now, with SOL recently declining to pre-election levels around $157.
Will Solana Price Rise Again?
Technically, Solana’s price looks ready for a bounce in the coming weeks due to an observable bullish fractal on its daily chart.
Notably, SOL has entered oversold territory on the Relative Strength Index (RSI), a level that previously triggered strong rebounds. The RSI is near 30, a zone where SOL saw sharp recoveries in the past.
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