The SOL perpetual contract fell from 105.09 to 103.55 within 15 minutes, a decline of 1.47%; 24h: -1.18%, with 24h trading volume of 1.144 billion USDT.
$SOL Current price: 104.25, 24h: -0.7%; intraday range: 103.04–105.24.
A rebound after a decline does not mean selling pressure has ended. Short sellers covering their positions can also push the price up, but this kind of buying back is not the same as new capital actively stepping in to buy.
A more convincing sign that the price has bottomed is when a retest no longer easily makes a new low, and increased sell orders fail to push the price lower. Without these changes, a steep decline is just a record of how far the price has already fallen—not proof that there is no room left to fall further.
$SOL Current price: 104.25, 24h: -0.7%; intraday range: 103.04–105.24.
A rebound after a decline does not mean selling pressure has ended. Short sellers covering their positions can also push the price up, but this kind of buying back is not the same as new capital actively stepping in to buy.
A more convincing sign that the price has bottomed is when a retest no longer easily makes a new low, and increased sell orders fail to push the price lower. Without these changes, a steep decline is just a record of how far the price has already fallen—not proof that there is no room left to fall further.