U.S. midterm elections risk Solana: Will 5% SOL ETF outflows create more losses?

Solana [SOL] could risk further decline based on analysis from crypto analyst Joao Wedson, referencing the asset’s previous midterm election performance. SOL is currently underperforming, with the asset down approximately 20% in the past 30 days. The midterm analysis, according to the data provided, shows that SOL tends to underperform one year after midterm elections before gradually gaining momentum. This pattern was observed between 2022 and 2023. A similar outlook could see SOL drop further from its present level, creating new local lows as investors exit their positions. While the fractal provides insights into possible market performance, analysis of the liquidation heatmap shows a major possibility of the asset witnessing a significant decline, as there are clusters below the price.

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