Recently, the price of Solana (SOL) has reached around $130, showing a 37% growth from the $95 low on April 7th. However, the market remains fragile with signs of serious risks. Data indicates a major market player selling about 274,188 SOL at an average price of $108, resulting in a loss of approximately $11 million for them. This behavior points to continued distribution by large investors and smart wallets, where whales use liquidity increases to exit rather than buy, posing a serious warning for small traders in volatile economic conditions. Data also shows significant supply congestion at $100, $120, and $140 levels. The most critical being the $140 level where around 27.8 million SOL (approximately 4.75% of total circulating supply) is concentrated. This area is recognized as a key resistance, and as long as the price fails to surpass it, there is a possibility of selling pressure from holders at a loss. Additionally, with approximately 38 million SOL in the $117 to $120 range, it could serve as a profit-taking zone. Furthermore, Solana’s daily growth of 7.07% has made it one of the fastest recovering assets. Open interest profits have also surged by 13.89% to $5.23 billion. This increase indicates the registration of new leverage positions that initially seem bullish but could lead to widespread liquidation in case of price drop. Ultimately, as long as Solana cannot reclaim the $140 level convincingly, the risk of price decline and severe fluctuations persists, with this recent growth being assessed more as a temporary surge. On the real-time digital currency price page, you can monitor the prices of all tokens and cryptocurrencies live and instantly.
