Solana bears ready to push asset even lower
First, let's talk about price. According to the most recent data, Solana is trading at $18.01. That is a far cry from its glory days, and it is not just retail investors who are feeling the heat. The DeFi landscape on Solana is also showing signs of strain, with liquidity and trading volumes dwindling.Now, let's delve into the elephant in the room: the looming FTX liquidation. As mentioned in previous U.
In summary, Solana is caught in a whirlpool of bearish sentiment, and the data points to further downside. Whether it is the increasing open interest, the falling trading volume or the spike in liquidations, all signs are pointing south. And let's not forget the FTX liquidation wildcard, which could serve as the knockout punch.
Investors and traders alike should tread carefully. Solana's current market dynamics are fraught with risk, and the bearish indicators are too glaring to ignore.
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