Will it hold as FTX deposits SOL to Binance?

Solana rebounded at $ 143 after a recent accident of 28%, recovering 4% in the last day, but could face the pressure while FTX continues to deposit Sol in Binance.

The decline occurred after a wave of profits, after the initial optimism around the announcement of strategic reserve of the American crypto of President Trump on March 2. Solana (GROUND) increased to $ 179, before moving to $ 130 as a market reacted Trump confirmation that prices in Canada and Mexico will have effect on March 4.

Despite volatility, the Solana’s DEX sector remains strong. According to Defillama dataSolana exceeded the volume DEX for the fifth consecutive month, reaching $ 109 billion, which was 24% higher than Ethereum (Ethn). Even if the trading market same has cooledplatforms like Raydium (RADIUS), Meteors and orca always lead to huge trading volumes.

On the technical front, the EMA at 9 days acts as a resistance, indicating a downward momentum. The support is located at $ 136, while keys resistance levels are $ 150.05, $ 166.32 and $ 179.01. At 39.65, just above the occurrence zone, the relative force index indicates the possibility of a brief recovery.

Although there was a peak in commercial activity recently, the overall trend is still down. Sol can try to get back to $ 166 if it moved above $ 150. However, it could drop more if the current support is not maintained.

Meanwhile, the FTX bankruptcy area seems to be preparing to unload large amounts of soil, adding uncertainty to the market. According to recent transactions reported by the Lookonchain chain analysis company on March 4, an address linked to the FTX not adapted to 3.03 million soil ($ 431.3 million), transferring $ 3,799 ($ ​​3.38 million) to Binance.