Connect with us
DAPA Banner

Crypto World

Why SOL’s Latest Breakout Could Trigger a Massive Short Squeeze

Published

on

Why SOL's Latest Breakout Could Trigger a Massive Short Squeeze


SOL spent weeks pinned between $80 and $87, with tightening Bollinger Bands signaling that a sharp move was coming either way.

Solana’s SOL token jumped past a key technical resistance level at about $93, turning what analysts called a “39-day distribution zone” into a structural floor.

The move has brought two price targets into focus, one being an initial level near $103 and a secondary one near $113.

Advertisement

Breakout Above $93 Shifts Sentiment

In a March 18 post on X, chartist Ali Martinez wrote that SOL’s return above the $93 level had turned a zone previously dominated by sellers into a potential base for further gains.

According to him, the setup has put a short squeeze in motion, meaning those who had bet on lower prices could be forced to buy back their positions, with the price moving against them, which could potentially speed up the rally.

“Solana just reclaimed $93.14, flipping a 39-day distribution zone into a structural floor,” Martinez explained. “If this level holds, a bull rally could happen much faster than people think.”

The breakout fits with other technical signals on longer timeframes, including a recurring pattern on Solana’s weekly chart of back-to-back candles with long lower wicks highlighted by analyst WebTrend.

According to them, the pattern has previously come before major rallies, with the first being in 2023, where it led to a 1,604% gain, and the second occurrence happening in 2025, leading to a 142% move upwards.

Advertisement

Fellow market watcher Bluntz also pointed to a completed accumulation phase following the daily breakout, suggesting that if the prices stay above the mid-$90 range, it could confirm a broader trend reversal.

You may also like:

Although SOL indeed broke through $93 earlier today to tap $95, it has lost some traction since then and now sits below $90. It has jumped by 7% monthly, but it was still down nearly 25% over the last year. It remains more than 67% below its all-time high of nearly $293, reached about a year ago.

Improving Market Structure, But Confirmation Still in Progress

The current setup is coming off the back of a period of compressed volatility, with Solana previously trading between $80 and $87 as tightening Bollinger Bands pointed to an imminent breakout. At the time, analysts couldn’t decide on the asset’s next direction, with some predicting a move higher and others, like DrBullZeus, claiming SOL could even drop to the $50 level.

Traders could look at ETF data for further context, with figures from SoSoValue showing that as of March 17, there had been almost $1 billion in net inflows into Solana-linked spot products. Furthermore, daily inflows have turned positive again after a brief period of negative movement earlier in the month.

Advertisement
SPECIAL OFFER (Exclusive)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Source link

Advertisement
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Crypto World

2 Bullish Signals for Ripple’s XRP Despite Ongoing Correction

Published

on

Spot XRP ETF Inflows. Source: SoSoValue


The negative ETF streak finally came to an end, which is the first good sign for XRP.

Ripple’s native cross-border token was rejected at over $1.60 yesterday and has dropped by over 10% since that local peak to $1.45 as of press time.

Nevertheless, there are a couple of positive signs for its short-term price movements, including the reactivation of whale wallets.

Advertisement

2 Bullish Signs

The spot XRP ETFs in the United States had entered their worst streak in terms of consecutive daily net outflows (or lack of any flows) that lasted nearly two straight weeks – from March 5, when investors pulled out just over $6 million, to March 16, when the withdrawals were just shy of that number. In the meantime, there were two days with zero reportable activity.

However, that negative trend was finally broken yesterday as the funds attracted $4.64 million – the highest single-day figure since March 3. As such, the total net inflows have remained above $1.2 billion.

Spot XRP ETF Inflows. Source: SoSoValue
Spot XRP ETF Inflows. Source: SoSoValue

The second positive news for the XRP Army comes from whales. After a prolonged period of lack of any substantial activity, these large market participants have resumed their accumulation spree. Citing data from Santiment, Ali Martinez asserted that they have bought 200 million tokens in the past two weeks. In terms of USD, this stash is worth roughly $300 million at current prices.

XRP Price Rejected

Yesterday’s positive net inflow day for the ETFs, aligned with the accumulation from whales and the overall market-wide resurgence, led to an impressive rally for XRP. The token surpassed BNB in terms of market cap after it jumped to a monthly high of around $1.63.

Advertisement

You may also like:

Although analysts began praising the move and setting new big targets ahead, XRP was rejected at that point and driven south by over 10%. It currently struggles to remain above $1.45. This correction comes despite the recent expansion news from the company behind the asset, as well as the fact that the top traders on Binance have been “quietly buying XRP long positions,” according to data from popular analyst CW.

SPECIAL OFFER (Exclusive)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Advertisement

Source link

Advertisement
Continue Reading

Crypto World

FTX Recovery Trust Announces Fourth Round of Creditor Repayments

Published

on

Bankruptcy, Sam Bankman-Fried, FTX

Additional reporting by Turner Wright.

The FTX Recovery Trust, which oversees the distribution of funds to creditors and former customers of the failed crypto exchange, announced on Wednesday that it will distribute $2.2 billion to creditors on March 31, 2026.

Eligible creditors will receive their funds through their chosen distribution provider within one to three business days, according to an announcement from the Trust. 

The fourth distribution includes a 18% payout for Dotcom Customer claims, a 5% distribution for US Customer Entitlement Claims and a 15% distribution for both General Unsecured Claims and Digital Asset Loan Claims.

Advertisement

Convenience claims will receive a 120% reimbursement under the recovery plan, according to the announcement.

Following the fourth round of distributions, about $10 billion will have been paid out to creditors and former customers of the exchange. The fifth round of payments is scheduled for May 29, 2026, according to the trust. 

The reimbursements could effect crypto prices in the short term if creditors and former customers of the FTX exchange, which collapsed in 2022, invest the recovery funds in digital assets. 

Advertisement

Related: Court sets deadline for US to address Bankman-Fried’s new trial motion

FTX recovers billions in payouts, but creditors say it isn’t nearly enough

The FTX Recovery Estate began creditor payments in February 2025, with a $1.2 billion payment, followed by a $5 billion distribution the following May. The third round of creditor payments was distributed in September 2025 and totaled $1.6 billion. 

Despite the billions of dollars recovered, creditors and former customers of the FTX exchange say they were short-changed by the recovery plan.

Creditors and former customers were reimbursed according to crypto asset values at the petition date in 2022, when legal action was taken against the exchange by creditors and customers.

Advertisement
Bankruptcy, Sam Bankman-Fried, FTX
Source: Sunil Kavuri

Crypto asset values were much lower when the petition was filed, with Bitcoin (BTC) then trading at about $16,871, and Ether (ETH) at about $1,258. 

“FTX creditors are not whole,” FTX creditor and creditor advocate Sunil Kavuri said in response to the reimbursement plan.

Convicted founder “SBF” pursues appeal, prison change

The latest effort to make victims whole comes amid appeal efforts by Sam “SBF” Bankman-Fried, the former CEO of FTX, who was sentenced to 25 years in prison following his 2023 conviction related to the misuse of customer funds.

He has posted to his X account using a proxy, often praising US President Donald Trump’s actions in the country’s conflict with Iran and his approach to regulating digital assets. Many experts speculate that the former CEO is lobbying the president for a pardon, but Trump reportedly said in January that he would not consider it.

As of Wednesday, Bankman-Fried was housed at the Federal Correctional Institution Terminal Island in the Los Angeles area. However, a Monday court filing by his mother claimed that he would be relocated “sometime in the next couple of weeks.”

Advertisement

Magazine: The $2,500 doco about FTX collapse on Amazon Prime… with help from mom