📉 1. Technical analysis: SOL broke the 165 USD mark

🔻 Important support level breached

• 165 USD is a strong support area in recent weeks.

• This is also the 50-day EMA on the daily chart, serving as a 'defensive line' for buyers.

➤ When this support breaks:

• Prices may quickly revert to the 155–150 USD range.

• Selling pressure may increase as this is a clear breakdown.

• If it continues to weaken, the next strong support area is around 138–145 USD.

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🔎 2. Market signals behind the drop

⚠️ Selling pressure from large holders

• Some hedge funds and whale investors may be taking profits after a strong rise from June to July.

• Funding rates on derivatives exchanges have decreased or turned negative, indicating that investors are shorting or lowering their bullish expectations.

📉 The altcoin market is 'lightly dumping'

• Not only SOL, many large altcoins (AVAX, NEAR, APT) also dropped by 5–10%.

• There is a possibility that capital is temporarily withdrawing from altcoins, returning to BTC or stablecoins due to macroeconomic instability.

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🌐 3. Macroeconomic & market sentiment

🏦 Risks from U.S. economic data:

• Investors are concerned about the upcoming August CPI and the possibility that the Fed will maintain a hawkish stance.

• U.S. bond yields are rising, putting pressure on risk assets (including crypto).

😟 Sentiment index declines:

• The Fear & Greed Index for the crypto market is leaning towards neutral – concern.

• The flow of stablecoins on-chain is increasing, reflecting that investors are on the sidelines observing.

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📈 4. Should we be worried?

Not necessarily.

• SOL remains a top strong altcoin, with a vibrant DeFi, NFT, and memecoin ecosystem.

• From a long-term investment perspective, the price range of 150–155 USD may be a reasonable accumulation area if BTC holds its price.

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🧠 Action strategy

If you are holding SOL:

• Can hold if long-term expectations and capital are good.

• Consider cutting losses partially if it breaks 150 USD with large volume.

If you want to buy in:

• Wait for a reversal candle signal in the 150–155 USD range or when BTC recovers strongly.

• Should enter in parts, not all-in, as there is no confirmation of a short-term bottom.

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✅ Conclusion

SOL falling below 165 USD is a negative signal in the short term, but does not ruin the long-term uptrend if it holds above 140–145 USD. This reflects caution in the altcoin market as BTC adjusts and sentiment is unclear.