Solana holders are engaging in panic selling, offloading approximately 3.55 billion USD worth of SOL tokens, which is causing a bearish sentiment in the market.
Despite significant selling pressure, there is an increase in accumulation activity, suggesting that some investors are buying SOL, potentially hinting at a price stabilization.
Technical indicators, such as Bollinger Bands, show SOL is positioned for a potential rally, with interest from derivative traders showcasing bullish sentiment.
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