Solana (SOL) rose 104% in the first quarter. Cryptocurrency was able to quickly recover from losses incurred as a result of the bankruptcy of the FTX exchange in November 2022.
Last week, SOL became one of the top performers, soaring 21.25%. However, already at the weekend, the altcoin began to correct under the pressure of the bears.
On the night of Monday, April 17, Solana fell 2% to $24.61. The capitalization of the digital currency at the time of publication of this review was just over $9.654 billion.
Traders send Solana to exchanges, which means that a cryptocurrency reset may take place in the near future.
According to the WhaleAlert service, last Saturday one of the investors transferred about 900,000 SOL worth up to $22.1 million to the Coinbase platform. If this whale organizes a dump, then other cryptocurrency holders may follow suit.
However, the sale may not take place immediately, and the whale will wait for the right moment to sell. They may be reaching $25-26.
If the bearish trend returns, then Solana will be able to enlist support in the $20 to $22 range.
Most investors are not yet interested in the fall of the altcoin below $20.
