Crypto Expert Sells All Solana Holdings – Has SOL Price Already Peaked?

Rafaela Rigo, a top analyst and crypto trader, has liquidated all her holdings in Solana (SOL), sparking discussions across investment circles.

Top crypto analyst and trader Rafaela Rigo has sold all her Solana (CRYPTO: SOL) holdings, according to her recent tweet.

"I just checked my sol chart again and just SOLD ALL MY SOL. Good luck everyone. Hope you had a good ride. Sol gave me x20+, thank you,” she wrote.

This announcement comes after her earlier technical analysis, which showed that SOL breached the bullish structure in April, leading to a shift in trend.

"Solana broke bullish structure in April, good luck to everyone that bought the top, sol top is likely 210$ for this bull cycle, sol delivered x20+, poor volume and bearish divs," Rigo stated in her tweet.

Solana's price at the time of writing is $137.32, down 7.66% in the past 24 hours and 11.03% over the last seven days.

Solana is trading in a bear trend with high volatility, according to the daily price chart. The Bollinger Bands are quite wide, indicating high volatility.

The price has recently approached the lower Bollinger Band, indicating strong downward momentum or a potential oversold condition.

On the daily price chart, several technical indicators point to a bearish trend.

The 50-day moving average (MA), depicted by a blue line, is currently acting as resistance with the price below it.

The 200-day MA, shown in orange, is also above the current price, further highlighting the downward trend.

When examining trading volume, it appears to be higher during price drops, which is a common characteristic of bear markets and is often associated with panic selling.

If the selling pressure persists in the short term, Solana is likely to test lower support levels around $100.08.

Additionally, key Fibonacci retracement levels provide crucial insights.

After recently breaching the 23.6% level at $125.73, this level may now act as new resistance, hindering any recovery rally.

The MACD indicators, including a downward trending line and increasing negative histogram bars, also suggest a continuation of the bear trend.

This immediate outlook for Solana suggests a bearish market perception, according to traders and investors.

News source：https://www.kdj.com/cryptocurrencies-news/articles/crypto-expert-sells-solana-holdings-sol-price-peaked.html

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