Solana holders panic sell, dump $3.55B – What can save SOL now?

SOL maintains bullish potential as market sentiment shifts.

• Solana continues to show a tendency to remain bullish as market sentiment turns positive.
• Long-term holders are beginning to lose conviction, as many of them have started selling their holdings.

• has been on a steady decline over the past week, falling by 11.56%. Data suggests that bearish sentiment has intensified, with selling pressure increasing over the last 24 hours.

  Long-term holders have played a notable role in this downturn, raising the possibility of further declines. However, accumulation activity appears to be increasing, which may help cushion SOL’s price drop.

  Despite this, rising accumulation and bullish sentiment in both the spot and derivative markets may help prevent a major decline in SOL’s value.