Solana

Bitcoin

Read

Stellar

<ul> 
 <li>FTX’s $3.4 billion sell-off worries Solana investors.</li> 
 <li>FTX plans gradual liquidation to prevent a price crash.</li> 
 <li>Solana bulls aim to break $20 EMA for a $22.4 target.</li> 
</ul> 
Solana investors are closely monitoring a crucial battle unfolding in the crypto market. As FTX, a prominent exchange dealing with financial distress, readies itself for a substantial $3.4 billion liquidation event, Solana (SOL) bulls are working diligently to defy the odds and push the price beyond the 20-day Exponential Moving Average (EMA). 
FTX’s impending liquidation has raised significant concerns about the market’s stability. The crypto community is currently grappling with uncertainty following the announcement of a massive sell-off, as potential bearish trends appear to be on the horizon. It’s worth noting that FTX holds a substantial amount of Solana, with over $1.1 billion worth of SOL in its portfolio. 
However, there is a glimmer of hope for Solana enthusiasts. FTX has outlined a gradual asset liquidation strategy, with plans to sell off no more than $100 to $200 million in digital assets weekly. This phased approach is designed to mitigate the immediate impact on asset prices and prevent a sudden plunge. 
In this volatile climate, Solana bulls have stepped up their game. Their primary goal is to push SOL’s price above the 20-day EMA, which currently stands at around $20. This indicator has been a crucial point of resistance, and overcoming it could signal a potential recovery for Solana, with a target price of $22.4 in their sights. 
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4> 
<ul class="wp-block-yoast-seo-related-links"> 
 <li><a href="https://cryptonewsland.com/bitcoin-eyes-50000-level/" rel="noopener noreferrer nofollow">Bitcoin Surges Above Monthly EMA 21 Line, Eyes $50,000 Level</a></li> 
 <li><a href="https://cryptonewsland.com/bitcoin-dominance-hits-2-year-high-as-altcoins-experience-steep-declines/" rel="noopener noreferrer nofollow">Bitcoin Dominance Hits 2-Year High as Altcoins Experience Steep Declines</a></li> 
 <li><a href="https://cryptonewsland.com/why-investors-keep-eyeing-stellar-xlm-despite-bitcoins-slump/" rel="noopener noreferrer nofollow">Why Investors Keep Eyeing Stellar XLM Despite Bitcoin’s Slump</a></li> 
 <li><a href="https://cryptonewsland.com/xrp-dominates-altcoin-trading-despite-heavy-sell-offs/" rel="noopener noreferrer nofollow">XRP Dominates Altcoin Trading Despite Heavy Sell-Offs</a></li> 
 <li><a href="https://cryptonewsland.com/bitcoin-bullish-indicators-blue-line-crossing/" rel="noopener noreferrer nofollow">Bitcoin’s Bullish Indicators: Analyzing the Blue Line Crossing</a></li> 
</ul> 
The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/bulls-push-solana-price-above-20-day-ema-amid-ftxs-3-4b-sell-off/">Bulls Push Solana Price Above 20-Day EMA Amid FTX’s $3.4B Sell-Off</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.

Bulls Push Solana Price Above 20-Day EMA Amid FTX’s $3.4B Sell-Off

Crypto News Land

Other articles published on Sep 11, 2023

Ripple expands US regulatory footprint with Fortress Trust takeover

Suku Bunga AS Bakal Naik Bulan Ini?

Crypto Exchange Listing and Delisting Announcements: September 11, 2023

Sam Bankman-Fried still wants out over poor WiFi and laptop access

Kroger (KR) Stock: Rallies After Q2 Results and Opioid Settlement

BUIDL-Weekly: 04SEP23 - 10SEP23

Join our free newsletter for daily crypto updates!