#ContentStar Solana price readies for a fall after FTX gets approval to dump $3.4 billion worth of crypto Solana (SOL) price could be due for a fall, coming on the back of selling pressure after Judge John Dorsey allowed defunct cryptocurrency exchange FTX to liquid billions of assets, including Bitcoin (BTC), Ethereum (ETH), and most interestingly, Solana (SOL), among other assets.

Sun of Tron contemplates an offer for FTX's holding tokens as crypto markets bend to FUD
Solana price could suffer as FTX readies for mass liquidations
Solana (SOL) price could suffer up to 10% in losses soon, with a lot of selling pressure anticipated around the token. The assumption comes after the court gave permission to the bankrupt crypto firm FTX to offload up to $3.4 billion worth of crypto.
Solana price remains confined within a descending parallel channel, facing immediate resistance from the governing pattern’s midline at around $18.42. Unless bulls get their act together, SOL could extend south, breaking below the immediate support at $17.34 before dipping into the demand zone (DZ) around the psychological $16.00 range. Such a move would denote a 12% decline from current levels.
In the dire case, the downtrend could extend to the $14.49 support floor, with the negative position of the Awesome Oscillator (AO) indicator motivating this outlook with red histogram bars showing selling pressure.