Crypto Analyst Details ‘Contrarian’ Solana Play Amid Drop in SOL Sentiment

Intently adopted crypto analyst Ali Martinez says {that a} contrarian play on Solana may be presenting itself for SOL bulls.

Martinez says that Solana’s consolidation from the yearly excessive and the latest outages on its community have created a low in sentiment for SOL.

Late final week, Solana additionally handled some congestion points partially stemming from a rush of customers trying to speculate on memecoins.

Martinez says now would be the time for a contrarian bounce from SOL.

“Crowd sentiment for SOL hasn’t been this low since the Solana network outage on February 6th. Being contrarian now might just pay off!”

Supply: Ali Martinez/X

At time of writing, Solana is buying and selling for $176.92.

Martinez additionally has his radar on Cardano (ADA). In accordance with the analyst, a slowdown in ADA whale exercise is at the moment suggesting that extra consolidation or a possible correction could also be on the horizon for the Ethereum (ETH) rival.

“Cardano is experiencing a lull in whale activity, signaling potential for further ADA price consolidation or an impending drop.”

Supply: Ali Martinez/X

At time of writing, ADA is value $0.584.

Bitcoin, Martinez notes that over $7.5 billion value of BTC has left wallets linked to crypto exchanges, suggesting that buyers are withdrawing their cash to carry them in chilly storage.

“In the last month, almost 111,000 BTC, valued at approximately $7.55 billion, have been moved out of known crypto exchange wallets!”

Supply: Ali Martinez/X

At time of writing, Bitcoin is buying and selling at $69,793.

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