#Crypto Market Pullback#


Solana
recently faced difficulties in trying to overcome the $200 mark, failing to break through this resistance last week
Despite this, the change in investor behavior, expressed in the increase in the share of long-term holders (LTH), may support recovery and future growth.
In the last 24 hours, the trading volume of Solana that had been inactive for 6 to 12 months has increased by 5 million SOL, which is valued at over $905 million. This indicates that a significant portion of the tokens is maturing and transitioning into long-term investments.
The maturation of these tokens may indicate confidence in the long-term forecast for Solana. The longer investors hold the tokens, the fewer there are in circulation, which could lead to a price increase.
The macroeconomic situation for Solana is concerning: the Chaikin Money Flow indicator (CMF) shows a decline. The CMF, which tracks capital movement, has fallen below zero, indicating that outflows are dominating inflows.
As outflows increase, the pressure to sell may intensify, which will reflect on the price of Solana in the near future. Investor skepticism and weak buying pressure may hinder SOL from breaking through important resistance levels.
At the time of writing, the price of Solana is $180, remaining above the support level of $175. Considering investor behavior, a significant decline is unlikely. The price is supported by the influx of mature assets and sustained investor interest.
If long-term holders remain resilient and do not start selling, Solana will have a chance to rise above the support at $189. Successfully holding this level will allow the altcoin to approach the resistance at $201, which it has been unable to break through twice in the past month. This could become a turning point for Solana.
If selling pressure intensifies and the price falls below $175, Solana risks reaching $163. This would invalidate the bullish scenario, prolonging the recent decline and increasing the risk of further drops. The outcome depends on investor sentiment and market conditions.
SOL-3.55%
FLOW-1.94%
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Ybaservip
· 08-21 00:02
thank you for the information 🙏🏻
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Discoveryvip
· 08-20 21:39
Watching Closely 🔍
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