The Reasons Behind SOL's Plunge: Two Major Factors Come to Light, Is There Hidden Opportunity in the Pullback?
Good afternoon, brothers. The recent pullback in SOL is mainly due to two short-term pressure factors:
First, the approval of the Grayscale SOL ETF has been postponed to October, which led to a disappointment in market expectations, causing short-term funds to concentrate on exiting; second, the lack of wealth creation effects from on-chain MEME coins, along with the internal strife between PUMP and BONK, has resulted in capital diversion, a sharp decrease in on-chain activity, and a dilution of ecological enthusiasm.
However, clear signals have emerged during the pullback: the weekly support level at $170 is showing strong consensus — previously, after a spike into this range, there was a quick recovery in volume, indicating solid buying support below, which serves as a psychological anchor point for most players.
The current moment is indeed a layout window: spot purchases can be made in batches, and the approval of the ETF and the logic of a rebound are merely a matter of time. The long-term target of the $230-300 range remains unchanged, and this is a good time to buy the dip to capture low-priced chips.
Opportunities in the Solana ecosystem are often hidden in the buildup after a pullback. If you're unsure about timing, you can follow the strategy rhythm — with continuous victories. For those wanting precise layout plans, we are always here for exchanges.
