$ 14.98 million destroyed in 24 hours

The Solana price in the last 24 hours has fallen by 6.21 %, which has climbed the total liquidation of the assets to $ 14.98 million.

This is followed by a short period earlier on the day when the sola’s price was approaching $ 270 before it dropped.

According to Coinglass data, long traders were the most affected, where long positions worth $ 11.4 million were destroyed.

This suggests that many traders bet on Solan’s continuing rise just to face a decline. Short Traders, on the other hand, saw $ 3.57 million liquidation.

In addition to the price drop, the volume of shops for Solana also decreased by 41.27 % to $ 5.47 billion. This suggests that the activity on the market around Sola has slowed down and fewer shops took place.

The Solana price has been between $ 246.79 and $ 269.81 in the last 24 hours, now according to CoinMarketcap data at the time of writing this article was $ 253.87.

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The price movement shows some volatility, but can find support if the purchase interest returns.

Another altcoins see similar trends

Solana was not the only asset that threatened to dispose of. Dogecoin (DOGE) has seen $ 7.29 million disposal, with most of this issue.

The DOGE price for the same period dropped by 3.8 %. The XRP also adhered to a similar pattern, with a disposal of $ 4.17 million and Dogwifhat (WIF) had a total disposal of $ 4.44 million.

With a decrease in price and reducing the volume of shops, Solana faces a period of uncertainty.

The price of the asset has now stabilized at $ 247.95, but it will only be seen whether the market can stabilize or whether there are other fluctuations in front of us.

The liquidation trend across many assets emphasizes volatility on the market crypto, with long positions bearing the main onslaught of recent losses.

As always, traders will watch the wider market for signs of revival.

Analysis of Solana Price

The Solana network has recently seen a steep increase in the volume of decentralized stock exchange (DEX) after the official Trump (Trump) memecoin, which moved the monthly volumes over $ 200 billion.

This milestone, unprecedented in any other network, helped raise the Solana price over the recent level of consolidation.

However, bear pressure soon culminated in the rally, suggesting that a slow trend can continue.

The Solan Prize in recent days has been testing the resistance point of $ 270 for the fifth time and showing signs that the bulls are trying to overcome this barrier.

Despite the lack of volume, the dynamics weakened and the technical indicators are now indicating a possible bear trend.

After climbing from approximately $ 175 to new ATH over $ 295, market optimism grew. However, rejection of the resistance of $ 270 shows a strong sales pressure.

Nevertheless, the price is testing a critical 50 -day gliding average, and if it gets below $ 240, there may be another decline.

While the Solana network remains the best choice for memecoins that attracted significant liquidity, the short -term hype could have a negative impact on the price of SOL.

However, the pressure on Solan ETF by large institutions adds a certain bull potential.

In the end, Solana can experience a decline, but support for $ 240 or $ 237 could provide the basis for a potential reflection.