Ethereum

Solana

Coin

<ul>
 <li><strong>At the time of writing, SOL is trading at $54.35, down 5.10% in the last 24 hours.</strong></li>
 <li><strong>If the price goes below the $51.7 support level then it will likely test the $44.6 mark.</strong></li>
</ul>
<p>After a large number of <a href="https://thenewscrypto.com/millions-in-solana-transferred-to-unknown-wallets-as-sol-dumps/" target="_blank" rel="noopener noreferrer nofollow">Solana</a> (SOL) tokens were transferred to an exchange, worries of a sell-off have increased among the crypto community. Solana pricing after having an extensive bull run has been consistently trading under negative pressure, increasing fears of a major price drop before the year-end.</p>
<p>According to Whale Alert, there were three separate transactions involving roughly 2.1 million Solana (SOL) in the preceding 24 hours. First, 899,999 SOL worth $50,456,212 were moved between unknown wallets.&nbsp;</p>
<p>In a separate transaction, 900,000 SOL worth a total of $50,465,194 were transferred between anonymous wallets. Then, 336,999 SOL worth $19,100,615 were transferred to the <a href="https://thenewscrypto.com/coinbase-stock-surges-amidst-spot-bitcoin-hopes-and-binance-event/" target="_blank" rel="noopener noreferrer nofollow">Coinbase</a> exchange by an unidentified whale.</p>
<p>The latest Coin Shares report indicates that $346 million flowed into the cryptocurrency market last week. Inflows of $312 million worth of bitcoin were recorded, surpassing a total of $1.5 billion in 2023. Inflows into Ethereum reached $34 million last week, bringing the total for the last four weeks to $103 million. However, Solana inflows slowed and fell to $3.5 million.</p>
<h3 class="wp-block-heading" id="h-intense-selling-pressure">Intense Selling Pressure</h3>
<p>Bears repelled Solana’s bid to go beyond the $69 mark. Solana may try to reach new annual highs by aiming for $75 if the price breaks this level. At the time of writing, SOL is trading at $54.35, down 5.10% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 51.98%.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2023/11/SOL_7D_graph_coinmarketcap-10.png" alt="" class="wp-image-86469" srcset="https://thenewscrypto.com/wp-content/uploads/2023/11/SOL_7D_graph_coinmarketcap-10.png 630w, https://thenewscrypto.com/wp-content/uploads/2023/11/SOL_7D_graph_coinmarketcap-10-300x181.png 300w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>If the price manages to go past the $58.8 resistance area then it will likely test the $62.6 level. Contrarily, if the price goes below the $51.7 support level then it will likely test the $44.6 mark.</p>

Solana Witnesses Significant Downturn as Bears Take Control

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TheNewsCrypto

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