Solana jumped 16 %, but the illusion could be short -lived

The digital active market is going through a new crisis and displays a dominant color: blood red. Bitcoin loses its Latin, Ethereum follows the trend, and altcoins suffer in silence. However, a resistant stands up: Solana. While his course fell to 125 dollars, he managed a spectacular rebound of 16 %. But for how long? With the shadow of massive releases of planned tokens, the future of the soil seems uncertain.

Solana facing pressure: a fragile rebound

Since February 24, Solana was in free fall, reaching A floor at 125 dollars on February 28. However, the injured beast did not say its last word: a 16 % rally followed, thanks to the announcement of Launch of Solana's term contracts by the Chicago Mercantile Exchange (CME). A beautiful glow of hope which, for the moment, is still awaiting the downstream of the Commodity Futures Trading Commission (CFTC).

But This rebound could well be a straw fire. If Sol has tried to stabilize above $ 143, the real test remains before him. A crucial resistance barrier is looming at 160 dollars. Will it cross it, or will we witness a new sudden fall?

All the more The relative Strength Index (RSI) was recently in the occurrence zonea signal already seen in June 2023, when the ground price was only $ 15 …

The massive release of the ground tokens: time bomb?

March 1st, 11.2 million soil will enter into circulationincreasing the total capitalization of the token by 2.84 %. A small percentage, but a big risk for price stability. Among the major beneficiaries of this operation, investors like Galaxy, Pantera and Figure, who are eyeing colossal gains ranging from $ 150 million to $ 3 billion.

History teaches us that Digital asset releases are never trivial.

Keyrock Trading, after the analysis of more than 16,000 similar events, predicts 8 % correction within 30 days of this release. And if we look at recent performance, Sol has already plunged 60 % in a month, which lets fear an additional dive.

A certain Jeremy, a seasoned crypto analyst, does not hide his skepticism:

“” Sol has bounded from 126 to 146 dollars in a few hours … but I have the feeling that we will see a lower one. »»

What will be the real impacts? Massive liquidation? An unexpected stabilization? The next few weeks promise to be hectic for crypto lovers.

• 11.2 million soil released on March 1;
• 2.4 % of the total impacted offer;
• 8 % decrease planned over 30 days post-unlock;
• 60 % fall already recorded last month.

Can the Crypto market absorb the shock?

Faced with this event, another worried factor: The potential sale of tokens from the inheritance of FTX. These 11.2 million soil, held by the former bankruptcy empire, are now worth around 2.03 billion dollars. A risk of additional dilution, while Solana tries to preserve its dynamics.

Some analysts, such as those of Xbtresearch, want to be pragmatic. If the sale of FTX Estate is fast, The pressure on the soil price will be high. On the other hand, if the funds are gradually released, Solana could absorb the shock in the long term. But who can really predict the behavior of such an unpredictable market?

Another parameter to take into account: the global dynamics of digital assets. Between persistent inflation, ever stricter regulations and traditional markets at half mast, the context is not the most favorable.

So, will Solana succeed in swimming against the current, or will he end up sinking with the rest of the altcoins?

Apart from the price of the soil, the ecosystem itself suffers. In recent times, the number of active users has dropped by 40 %. And to make sure, the fiasco of Pump.fun could sound the end of the same on Solana. Can an erosion that questions: will Altcoin maintain its resilience or is it at the dawn of an implosion?