The layer-1 protocol Solana is a serious threat to the security of your system, according to a well-known crypto analyst.SOL() could be about to make a drastic corrective action.
Analyst Ali Martinez tells Solana’s 122.400 followers, on social media platform X, have warned that he is at risk of falling to levels seen last in October 2024.
To invalidate the outlook of this trader, SOL has to remain above a critical support level.
“This is it! If Solana SOL fails to hold above $191, a drop to $138 could be imminent.”
Looking at the trader’s chart, he seems to suggest that SOL is still trading within an ascending parallel channel – a pattern indicating that an asset is an uptrend, printing higher highs and higher lows. He notes, however, that losing the $191 support would invalidate the diagonal support of this channel and could end a multimonth trend.
SOL currently trades for $197. If Solana hits its analysts’ downside target, this would represent a 39% drop.
Looking at XRPThis analyst has noted that whales can be found in the ocean. unloaded In just one single day, the market capitalization of the crypto asset ranked third by value has risen to tens and tens millions of dollars.
“Whales have offloaded over 130 million XRP in the past 24 hours!”
At the time of this writing, the value of XRP was $2.24. That’s a loss over 20% for today.
Dogecoins with deep pocketsDOGEInvestors also offloaded Martinez, their stacks.
“Whales sold 270 million Dogecoin DOGE in the last 24 hours!”
DOGE was trading at $0.227 as of the date this post is published, a decrease of more than 22% over the last day.
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