SOL breaks below the $120 mark! SOL continues to drift lower, catching up on losses—can massive hedging by existing positions stop the decline?
SOL slipped further to $119.52 (-0.93%), significantly underperforming the broader market.
There have been no new spot fund inflows to add liquidity, nor any major updates to the technical client. Its place on the trading volume rankings is sustained entirely by defensive hedging from existing positions, with price action showing a typical catch-up decline.
Conclusion: With no fresh marginal buying, massive hedging volumes cannot mask the underlying weakness. Best to stay on the sidelines.
#SOL #Solana #山寨币 #公链
$SOL
SOL slipped further to $119.52 (-0.93%), significantly underperforming the broader market.
There have been no new spot fund inflows to add liquidity, nor any major updates to the technical client. Its place on the trading volume rankings is sustained entirely by defensive hedging from existing positions, with price action showing a typical catch-up decline.
Conclusion: With no fresh marginal buying, massive hedging volumes cannot mask the underlying weakness. Best to stay on the sidelines.
#SOL #Solana #山寨币 #公链
$SOL
