Solana Crashes to Pre-Election Lows Amid Binance, Kraken SOL Selloff Rumors…

This occasion has fueled what some analysts name “peak FUD” (worry, uncertainty, and doubt) inside the Solana ecosystem as considerations mount over the potential market impression.

tbh rn is a pullback throughout crypto following equities flush after German election outcomes and Zelensky hinting he gained’t maintain elections…

Solana is dealing with peak FUD rn alongside cryptos retrace throughout the trade, everybody remains to be scared post-libra and with unlocks fud nonetheless…

— Bastille (@BastilleBtc) February 24, 2025

Merchants are significantly cautious of the unlock’s implications, given the likelihood that the FTX property might liquidate a good portion of its holdings to fulfill excellent obligations.

Traditionally, massive token unlocks have exerted downward stress on costs as merchants react by preemptively promoting or hedging their positions. This seems to be occurring now, with SOL lately declining to pre-election ranges round $157.

Will Solana Value Rise Once more?

Technically, Solana’s worth seems prepared for a bounce within the coming weeks as a consequence of an observable bullish fractal on its day by day chart.

Notably, SOL has entered oversold territory on the Relative Power Index (RSI), a stage that beforehand triggered sturdy rebounds. The RSI is close to 30, a zone the place SOL noticed sharp recoveries previously.