【What is SOL waiting for? Trading volume says everything, but nobody wants to listen】
Last night I watched the on-chain data and noticed an interesting signal: SOL address activity has been below the monthly average of 30% for three straight days. This isn’t a normal sideways move—it’s insiders playing dead.
Support at 116, resistance at 122. It’s been three days and they’ve just been draining time at these levels. I saw this kind of chart behavior in 2017. It isn’t bottoming out—it’s waiting for news. Waiting for what? I don’t know. But volume won’t lie. With the current volume, it can’t possibly support a real breakout.
Some will say that a 59% pullback is a value zone, and the historical data is right there. That’s true—but the question is: whose value is it? Long-term capital entering doesn’t mean price will go up right away. Their accumulation phase can last for half a year. If you go in with the logic of “it’s already dropped enough, so it has to rise,” then what you may be waiting for is a dull knife cutting you out over the course of half a year.
The sentiment index is 67: the market is greedy, but not out of control. This state is the most eerie—there aren’t many believers, but there also aren’t many people willing to commit real money. Everyone is waiting—waiting for someone else to move first, waiting for an excuse that lets them get on board with a clear conscience. I’m too familiar with this mindset. In 2017, that’s exactly how I stood on top of the mountain.
Put simply, SOL’s situation right now is this: the story is big and the ecosystem is doing things, but the market sentiment hasn’t reached the point to ignite. Is the big money accumulating or distributing? I don’t know. But one thing is certain—once this low-volume phase ends and the direction finally comes out, many people will regret not having thought it through when it was below 120.
I don’t have the answers either. But I know one thing: before the trading volume picks up, all support and resistance levels are just talk on paper.
What’s your mindset right now? Are you still holding and squatting in the position, or are you already in cash, watching the show?
Last night I watched the on-chain data and noticed an interesting signal: SOL address activity has been below the monthly average of 30% for three straight days. This isn’t a normal sideways move—it’s insiders playing dead.
Support at 116, resistance at 122. It’s been three days and they’ve just been draining time at these levels. I saw this kind of chart behavior in 2017. It isn’t bottoming out—it’s waiting for news. Waiting for what? I don’t know. But volume won’t lie. With the current volume, it can’t possibly support a real breakout.
Some will say that a 59% pullback is a value zone, and the historical data is right there. That’s true—but the question is: whose value is it? Long-term capital entering doesn’t mean price will go up right away. Their accumulation phase can last for half a year. If you go in with the logic of “it’s already dropped enough, so it has to rise,” then what you may be waiting for is a dull knife cutting you out over the course of half a year.
The sentiment index is 67: the market is greedy, but not out of control. This state is the most eerie—there aren’t many believers, but there also aren’t many people willing to commit real money. Everyone is waiting—waiting for someone else to move first, waiting for an excuse that lets them get on board with a clear conscience. I’m too familiar with this mindset. In 2017, that’s exactly how I stood on top of the mountain.
Put simply, SOL’s situation right now is this: the story is big and the ecosystem is doing things, but the market sentiment hasn’t reached the point to ignite. Is the big money accumulating or distributing? I don’t know. But one thing is certain—once this low-volume phase ends and the direction finally comes out, many people will regret not having thought it through when it was below 120.
I don’t have the answers either. But I know one thing: before the trading volume picks up, all support and resistance levels are just talk on paper.
What’s your mindset right now? Are you still holding and squatting in the position, or are you already in cash, watching the show?