In a twist of fate, crypto analyst Scott Melker, a.k.a. The Wolf Of All Streets, has spotted a picture perfect bounce off $112 support for Solana (SOL). A double bottom, he says, would need to break $147—until then, be wary of declaring victory too soon. Meanwhile, $200M of SOL is set to unlock tomorrow, marking a significant milestone. Optimists like NooNe0x see this as the last large block, with 78% of unlocks already happening. But history shows that major unlock events can send prices on a wild ride, with much depending on actual selling pressure.
Awawat, a trader at APG Capital, is less optimistic, warning that despite SOL holding above $100, the ice is thin, especially with the last big unlock tomorrow. At press time, SOL traded at $115.
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2025-04-05 05:10