Solana’s Fateful Dance: Will $1.77 Billion Unlock Save or Sink SOL? 💸🕺

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In the ever-changing world of cryptocurrency, Solana finds itself at a critical juncture. As the looming $1.77 billion unlock approaches, the fate of SOL hangs in the balance. Crypto analyst Koroush Khaneghah, Founder of Zero Complexity Trading, has shared a technical chart that highlights Solana’s ongoing downtrend, with pivotal support and resistance levels on the SOL/USDT Perpetual (Binance) daily timeframe.

The Bearish Argument For Solana

Koroush’s analysis reveals a support/resistance (S/R) flip around $180.58, which Solana attempted to reclaim in February but was met with strong selling pressure. The failure to secure a daily close above $180.58 has signaled renewed downside momentum.

Currently, Solana is hovering near the $157 area, which Khaneghah labels as the “last major support level.” A failure to hold $157 on daily closes increases the possibility of further decline toward the next significant horizontal line around $127.05.

The Bullish Argument For SOL

Meanwhile, crypto analyst RunnerXBT (@RunnerXBT) has shared an orderflow analysis of the Solana (SOL) futures chart (2-hour timeframe on Binance) today. The chart underscores notable price points, liquidations, and changes in positioning ahead of the upcoming March 1 unlock.

RunnerXBT warns against shorting SOL at current levels, explaining that he initially started monitoring this situation when the token traded just under $200 and is now seeking a scalp long after the unlock has happened. He points out that attempts to catch every 5–10% daily drop are dangerous and that traders who do so risk frequent stop-outs or liquidations.

As the countdown to the “biggest SOL unlock known to mankind” continues, the question remains: will this monumental event save or sink Solana? Only time will tell, but one thing is certain – the crypto world will be watching with bated breath. 🍿

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2025-02-25 00:05