Due to leveraged traders suffering significant losses, Solana is facing a new round of selling pressure, with over $14 million liquidated in the past 24 hours, including $13.1 million from long positions. Analysts point out that Solana has entered a distribution phase; after breaking below the $100-$110 range, this zone has become a resistance level, with the price under pressure around $85. Elliott Wave theory analysis indicates that the third wave of decline is still ongoing, with the next target between $72 and $78. SOL is currently trading near $87.65, down over 3% for the day and nearly 7% for the week.

SOL-2,7%

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