- Solana is less than $ 160, with net realization P/L changing to negative numbers.
- Is SOL an installation for surrender or bounce?
Just a week ago, Solana (SOL) cruised in a comfortable $ 170- $ 185 range. FOMO was alive, weak hands were still holding on, and the market was leaning on potential bounce.
now? SOL falls 11.54% and slides quickly. In general, weak hands begin to sell when the profit margin is pressed. But this time, chain data talks more interesting.
Market patience that wears thinly when losses accumulate
For the first time in almost two months, Solana’s Sundae Sundae profit/loss was realized. It is a big problem. It means that people start selling losses.
For $ 156, we are watching about $ 333 million due to realization loss. In other words, the chunks of the buyer, which are higher than the current spot value, are even qualified or destroyed at best at best.
But beyond numbers, psychological impacts are key.
Market patience is poor and confidence in bounce is quite low. Looking back, this kind of red flag generally appears just before the great surrender of Solana.
Do you remember selling in early February? SOL accounted for almost 56%over two months and nearly $ 95 in early April. The realized losses soar and all that FOMO? It disappeared.
Source: Glass Node
I feel so familiar. It is not completely surrendered yet, but the crack is displayed.
According to AMBCRYPTO, Solana can slide straight into another deep fertilization without a strong optimistic catalyst for restoring trust and submerging.
11.54%hitting every week? It may not be the floor. Instead, it can just be the first leg of the wider tension.
When solana loses foot, the bear pops out
Looking at Solana, it is clear that opportunistic shorts occupied the driver’s seat. After a short happy spike, Longs accounts for more than 90% of the total liquidation.
But when the catch is trapped in a neutral bull or bear, the setting for short pressure is wide open.
In fact, in 12 hours of Binance Sol/USDT Perpetual, the juicy fluid cluster is cooked for $ 161.47, and the leverage located by the thread is $ 7.3 million.
Triggers and the bulls can again put the rocket again. But to get there, Bulls needs a clear game plan.
Solana has already dropped to less than $ 160, and now $ 150 is on the cross. When a buyer goes up here, short pressure can pump confidence quickly.
Source: TradingView (SOL/USDT)
If not, be careful -Solana can jump into a complete surrender and the bear will pop out. At this time, SOL remains at a weak point. One wrong movement can relax large -scale tensions.