Solana Faces $431M Sell-Off: Will the Price Drop Below $100?

FTX’s Massive Unstaking: What It Means for SOL

As FTX restructure its assets to recap investors millions of SOL tokens have been unstaked and transferred to various wallets causing selling pressure. So far:

• 3.03 million SOL ($431.3M) unstaked

• 24,799 SOL ($3.38M) already sent to Binance

• More unlocks expected in April and beyond

Big token unlocks usually cause market instability as investors fear increased liquidity could drive prices lower. This has led to speculation whether Solana could go below $100 in the next weeks.

Will Solana Drop Below $100? Market Signals Say No

Despite the downward momentum Solana may not go below $100:

• Strong Rally History: Solana was at $177.88 yesterday, showing high buying interest and trading volume.

• Key Liquidation Levels: Coinglass data shows that $300M in liquidations would happen if SOL reaches $127, triggering a price bounce.

• Bitcoin’s Seasonal Strength: Historically March is a bullish month for Bitcoin which could help altcoins to recover.

Will #Solana Price Crash Below $100 Amid FTX’s $430M Unlock?

— Coin Jupiter (@coinjupiter) March 4, 2025

While short term volatility is high Solana’s fundamentals and history of resilience suggest it will stabilize above $120 and a crash below $100 is unlikely.

Solana Price Prediction – Technical Analysis

Solana is at $136.05 just above the ascending trendline after a sharp drop from $180.05. It’s testing a crucial support level with $124.84 as the next major target if selling continues.

The 50 EMA at $148.14 is the immediate resistance and the broader bearish structure. A move above $145.10 could be a sign of a bounce, with next resistance at $158.15. But if we can’t hold the trendline, it could be a drop to $124.84 and then $112.35.

Watch for a break above $145 for bullish confirmation or below the trendline for a deeper correction. Market is weak and a strong move in either direction will determine Solana’s short term trend. A move above the 50 EMA will shift the sentiment to bullish.