Solana is a layer-1 blockchain with a staggering ownership by VCs and insiders of 48%. There are very large blocks of 0.5-3.5million tokens per trade dropping on FTX lately. This means that insiders are selling SOL for USDC or Bitcoin at a fast pace during this correction. I have set a target at $105 for the primary wave C (as shown in magenta), which corresponds to the secondary wave 2 of the extended primary wave 5. It could even go as low as $85 in the upcoming days.
Order cancelled
Invalidated count
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.