Solana Nears $80 as $110 Million Moves to Exchanges and Key Level Breaks

Overview

• Ali Martinez said Saturday that 1.40 million SOL worth about $110 million moved to centralized exchanges over 72 hours, a shift traders often see as preparation to sell.
• SOL trades around $79 to $81 after losing the $85 mark, confirming a drop from a bearish continuation pattern traders call a bear flag on the daily chart.
• A new bearish signal on the 4-hour chart shows the 20-period moving average crossing below the 50, which points to weakening momentum.
• Traders are watching $77 as the next floor, with a lower support area near $66 to $70 if selling picks up.
• A $285 million hack of the Solana-based Drift Protocol, reported to affect about 20 projects, has cooled risk appetite across the ecosystem.