SOL/USDT Trading Scenario Update

The overall negative sentiment in the altcoin market, along with the beginning of the FTX customer repayment process, is putting downward pressure on the price of Solana (SOL). Currently, the asset's value has declined by more than 45% from its local peak and has dropped below the 300-day moving average.
From a volume profile perspective, market participants' interest in SOL remains high within the current broad price range. At its current price level, the asset appears attractive for long-term investments.