While Solana entered a new leg up in November 2024 after a mild bounce in early August 2024 on the 4 Hour moving average fibonacci retracement levels, there was hard rejection at 252.00 which created a new leg at the 178.00 level.

This does ultimately look bullish to the average investor. The key word is average. What really sets a trader apart from another? Technique, discipline and experience obviously, right? Well think of the fact that every day, hundreds of newly developed AI trading bots are deployed to trade among you. These bots don't trade with emotion or speculation. They trade strictly on data, trigger points and manipulation for profit. They will scalp the maximum amount of profit using those techniques and paint a false picture on candlestick charts to look "healthy" or "ready to bounce back".

Influencer Roles in Deep Seeded Scams

With record breaking volume and new user wallets pushing the price of Solana to it's peak, reaching a new all time high, could the recent major sell-offs be tied to large name influencers? - Trading in the large amounts of Solana gathered in early 2021 from the promotion of NFTs, which most lost the majority of their value? A nice double dip for influencers to secure generational amounts of wealth on a stockpile of Solana which has historically been easy to manipulate and dump. Taking advatage of the actual good technology and innovation that holds the Solana blockchain together. 

From LARP (Live Action Role Playing) to deception and deciet, the role of influencers runs rampant. It can truly take an expert in some sense to connect one influencer to another but many of them work together and have their own role in the operation, assigned or not. 

Fact or Fiction?

With big name influencers holding large amounts of liquidity, ready to take action on multiple projects at once, this can leave a large margin to essentially wash profits in waves by cycling between these coins. Can you really trust anyones word online without actual proof? That's what makes this difficult because the law assumes innocence until proven guilty. Insider trading and manipluation is hard to prove but easy to assume. Full transparency can never be brought to light as the intentions of one influencer in a group might differ from another.

Let's take a look at this X post from Faze Banks

Now let's take a look at this post from Hailey Welch

While Hailey and her "team" have claimed not to be selling their tokens in a post back in December 4th 2024, many people have claimed that Faze Banks and Frank Degods might be involved with the insider trading, without the knowledge of Hailey. Meanwhile Faze Banks claims himself that him and his team have never owned a $HAWK coin. 

Conclusion

As a long time Solana advocate, the payload on the blockchain was a great testament of it's capabilities and genuinely excites me for what the future brings! Will Solana break out from the current leg or will it retest at a lower level? No one knows except the billionaires! But ultimately I have always believed Solana will be the runner up for the next biggest crypto integration and the price will hold it's value in the long term but currently many influencers have overstepped their role in this global operation and have caused a stir financially for many people.

For the outlook of Solana, the patterns to look bullish over the coming month however i do believe there could be one more large crash to secure a greater position for large institutions that have already made crypto integrations. Long term? We could be going to the moon fellas!

What do you think? Leave a comment and like this post if you would like me to continue this series!

Edit: Continue to Part 3