Overview
- SOL trades near $197 after repeated failures to establish $200 as support.
- Glassnode reports the share of supply in profit jumped from 52% to 70% within 48 hours while price rose less than 5%, signaling clustered gains vulnerable to fast profit-taking.
- About 1.5 million SOL, roughly $300 million, moved to exchanges over 10 days, increasing near-term sell risk.
- A drop below $192 could open moves toward $183 and $175, while a clean breakout above $200 and follow-through to $213 would invalidate the bearish setup.
- Futures open interest near $9 billion leaves the market primed for a large move once volatility picks up.