Since reaching its cycle peak at $206 on July 22, Solana (SOL) has struggled to maintain its upward momentum, with a sharp decline of 14% over the past week alone.
But! 👀
On-chain data indicates the beginning of a change in price behavior that may pave the way for an imminent rebound.
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🧠 Long-term investors are returning to accumulate!
📉 The 'Liveliness' index, which measures the movement of old tokens, has dropped to a weekly low of 0.76 – indicating that long-term SOL holders are stopping their sales and beginning to accumulate.
📈 The 'Net Holder Position Change' index recorded an increase of +102% in just 4 days – meaning that more tokens are being withdrawn from exchanges and stored in cold wallets.
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🔴 SOL traders are selling at a loss... Is this a bottom signal?
📊 The realized profit/loss index dropped to 0.15 – the lowest level in 30 days, indicating that the majority are selling at a loss.
Historically, such conditions lead to price stabilization and the formation of a local bottom.
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🚦 Critical levels now:
🔹 Current price: $160.55
🔹 Important support: $158.80 — under observation!
🔹 In the case of an upward movement: first target at $176.33
🔹 In the case of a downward break: we may see a drop towards $145.90
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📌 Summary:
Despite the recent decline, the market shows technical and behavioral signs of a potential bullish bottom formation. Large Solana holders are quietly buying, and the question now is: Are we witnessing an imminent rebound?
