$SOL 75.68, down 5.04% in 24 hours. Today’s low was 74.96; only one of the last 88 daily candles closed lower.
That was the 74.38 low set on August 17.
This isn’t an ordinary pullback.
The key question isn’t how far it’s fallen—it’s whether 74.38 will hold.
Yesterday’s 20:00 four-hour candle saw 474 million in volume, 2.94 times the median of the 41 completed candles.
It hit a high of 82.38 and closed at 80.00, well below its 80.63 open.
The candle with the biggest volume closed below its own open. That wasn’t buyers pushing the price up; someone used all that volume to quietly unload.
Open interest fell from 9668276 contracts to 9287757, down 3.94%—less than the price drop of 4.57%. It wasn’t new shorts doing the selling; longs were closing out.
A hold above 78.46 would mean the bleeding has stopped. A break below 74.38 would mark a three-month low. Keep an eye on 74.38, don’t rush to buy the dip—wait for the candle to close.
$ETH fell just 4.12% over the same period. L1 tokens are retreating across the board, and SOL is falling faster.
Would you cut your position in half here, or hold it all?
Source: https://fapi.binance.com/fapi/v1/klines?symbol=SOLUSDT&interval=4h
That was the 74.38 low set on August 17.
This isn’t an ordinary pullback.
The key question isn’t how far it’s fallen—it’s whether 74.38 will hold.
Yesterday’s 20:00 four-hour candle saw 474 million in volume, 2.94 times the median of the 41 completed candles.
It hit a high of 82.38 and closed at 80.00, well below its 80.63 open.
The candle with the biggest volume closed below its own open. That wasn’t buyers pushing the price up; someone used all that volume to quietly unload.
Open interest fell from 9668276 contracts to 9287757, down 3.94%—less than the price drop of 4.57%. It wasn’t new shorts doing the selling; longs were closing out.
A hold above 78.46 would mean the bleeding has stopped. A break below 74.38 would mark a three-month low. Keep an eye on 74.38, don’t rush to buy the dip—wait for the candle to close.
$ETH fell just 4.12% over the same period. L1 tokens are retreating across the board, and SOL is falling faster.
Would you cut your position in half here, or hold it all?
Source: https://fapi.binance.com/fapi/v1/klines?symbol=SOLUSDT&interval=4h
