I’ve been looking at Solana’s recent price action, and one thing caught my attention. 👀
$SOL has been under selling pressure, but the trading volume is also picking up. That makes this an interesting level to watch.
Here’s what the numbers say:
📉 Oct 6 close: $120.68
📉 Oct 7 close: $116.23
📉 Oct 8 close: $109.51
That’s roughly a 9.3% drop in two days.
At the same time, reported daily trading volume increased from around $2.46B on Oct 7 to $3.07B on Oct 8.
How I read this:
The price is falling while more money is being traded. That tells me the market is active, but it doesn't tell us who is in control.
If buyers step in and $SOL starts recovering, this pullback could become an interesting setup.
But if selling continues despite the higher volume, I wouldn’t rush to call the bottom.
Personally, I’d rather wait for confirmation than try to catch a falling knife.
One thing worth remembering: high volume during a decline isn't automatically bullish.
What do you think about $SOL here?
Are we looking at a buying opportunity, or could there be more downside before a proper recovery?
#Solana #SOL #CryptoAnalysis #Binance #CryptoMarket
$SOL has been under selling pressure, but the trading volume is also picking up. That makes this an interesting level to watch.
Here’s what the numbers say:
📉 Oct 6 close: $120.68
📉 Oct 7 close: $116.23
📉 Oct 8 close: $109.51
That’s roughly a 9.3% drop in two days.
At the same time, reported daily trading volume increased from around $2.46B on Oct 7 to $3.07B on Oct 8.
How I read this:
The price is falling while more money is being traded. That tells me the market is active, but it doesn't tell us who is in control.
If buyers step in and $SOL starts recovering, this pullback could become an interesting setup.
But if selling continues despite the higher volume, I wouldn’t rush to call the bottom.
Personally, I’d rather wait for confirmation than try to catch a falling knife.
One thing worth remembering: high volume during a decline isn't automatically bullish.
What do you think about $SOL here?
Are we looking at a buying opportunity, or could there be more downside before a proper recovery?
#Solana #SOL #CryptoAnalysis #Binance #CryptoMarket