Are Investors Becoming Pessimistic About the Solana (SOL) Price Surge? What Keeps SOL Price Below $170? 📉
The recent surge in Bitcoin's price has led to increased bearish sentiment among investors, resulting in a wave of short trades that have kept the Solana price from breaking out of its current range. Despite Bitcoin reclaiming $106,000 and causing liquidations in short positions, Solana hasn't moved past the $170 mark.
While other tokens experienced a bullish breakout due to Bitcoin's momentum, Solana remains in a state of price consolidation. Investors appear to be cautious, opting for short trades that hinder Solana's upward movement, even as other cryptos benefit from Bitcoin's rise.
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